Leavell Investment Management Inc. Buys 2,200 Shares of Wells Fargo & Company $WFC

Leavell Investment Management Inc. grew its stake in Wells Fargo & Company (NYSE:WFC) by 10.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,932 shares of the financial services provider’s stock after buying an additional 2,200 shares during the quarter. Leavell Investment Management Inc.’s holdings in Wells Fargo & Company were worth $1,917,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in 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 acquiring an additional 25,436 shares during the period. GAMMA Investing LLC increased its stake in shares of Wells Fargo & Company by 11.3% in the first 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 in the last quarter. Robeco Institutional Asset Management B.V. lifted 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 valued at $38,045,000 after buying an additional 151,108 shares in the last quarter. Western Wealth Management LLC lifted 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 valued at $989,000 after buying an additional 1,635 shares in the last quarter. Finally, Money Concepts Capital Corp bought a new position in Wells Fargo & Company in the 1st quarter worth $529,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent analyst reports. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Barclays upped their price target on Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Finally, Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Price Performance

WFC stock opened at $86.35 on Friday. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $87.47. The firm has a market capitalization of $276.61 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 1.19 and a beta of 1.25. The company has a fifty day simple moving average of $81.89 and a two-hundred day simple moving average of $77.72. 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) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.11. The firm had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 EPS. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio is 29.61%.

About Wells Fargo & Company

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.