Strategic Blueprint LLC Acquires 3,121 Shares of Wells Fargo & Company $WFC

Key Points

• Strategic Blueprint LLC increased its holdings in Wells Fargo & Company by 55.5%, acquiring an additional 3,121 shares, bringing their total to 8,749 shares valued at approximately $701,000.
• Wells Fargo reported earnings per share (EPS) of $1.66 for the recent quarter, exceeding analyst expectations of $1.55, along with a revenue of $21.44 billion, a 5.3% increase year-over-year.
• The company also announced a quarterly dividend increase to $0.45 per share, up from the previous $0.40, demonstrating a dividend yield of 2.1% for its shareholders.

Strategic Blueprint LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 55.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,749 shares of the financial services provider's stock after purchasing an additional 3,121 shares during the period. Strategic Blueprint LLC's holdings in Wells Fargo & Company were worth $701,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of WFC. Brighton Jones LLC increased its stake in shares of Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider's stock worth $4,652,000 after purchasing an additional 25,436 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Wells Fargo & Company by 11.3% during the 1st quarter. GAMMA Investing LLC now owns 47,264 shares of the financial services provider's stock worth $3,393,000 after purchasing an additional 4,786 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Wells Fargo & Company by 39.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 529,952 shares of the financial services provider's stock worth $38,045,000 after purchasing an additional 151,108 shares during the last quarter. Western Wealth Management LLC increased its stake in shares of Wells Fargo & Company by 13.5% during the 1st quarter. Western Wealth Management LLC now owns 13,775 shares of the financial services provider's stock worth $989,000 after purchasing an additional 1,635 shares during the last quarter. Finally, Money Concepts Capital Corp acquired a new position in shares of Wells Fargo & Company during the 1st quarter worth about $529,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $86.35 on Friday. The company's 50 day moving average price is $81.89 and its two-hundred day moving average price is $77.72. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $87.47. The firm has a market cap of $276.61 billion, a PE ratio of 14.20, a PEG ratio of 1.19 and a beta of 1.25. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same quarter in the prior year, the business posted $1.42 EPS. The business's revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a dividend of $0.45 per share. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company's payout ratio is currently 29.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays upped their price target on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, October 15th. Weiss Ratings reiterated a "buy (b)" rating on shares of Wells Fargo & Company in a research note on Friday. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 15th. Bank of America upped their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, October 15th. Finally, Cfra Research upgraded shares of Wells Fargo & Company to a "moderate buy" rating in a research note on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $89.57.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.