Wells Fargo & Company (NYSE:WFC) Stock Position Raised by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. lifted its stake in Wells Fargo & Company (NYSE:WFC) by 104.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 83,383 shares of the financial services provider's stock after acquiring an additional 42,648 shares during the period. J.W. Cole Advisors Inc.'s holdings in Wells Fargo & Company were worth $5,986,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in WFC. Brighton Jones LLC grew its holdings in Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider's stock valued at $4,652,000 after buying an additional 25,436 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Wells Fargo & Company by 53.5% during the 4th quarter. Proficio Capital Partners LLC now owns 9,855 shares of the financial services provider's stock worth $692,000 after purchasing an additional 3,436 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $95,000. Virtu Financial LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $1,892,000. Finally, Guardian Partners Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $4,242,000. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Raymond James Financial lowered Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 7th. Citigroup reiterated a "neutral" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Barclays cut their price objective on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. TD Cowen began coverage on Wells Fargo & Company in a research report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective for the company. Finally, Bank of America lifted their price objective on Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $80.39.

Wells Fargo & Company Stock Up 1.2%

Shares of NYSE:WFC opened at $80.64 on Monday. The company has a market capitalization of $262.42 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 1.34 and a beta of 1.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The business's 50-day moving average is $77.14 and its 200-day moving average is $74.24. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $83.95.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%. The business had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same period in the prior year, the business earned $1.33 EPS. The firm's revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company's dividend payout ratio is presently 27.40%.

Wells Fargo & Company announced that its board has initiated a stock repurchase program on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 17.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

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.

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