Nilsine Partners LLC Acquires 19,295 Shares of Wells Fargo & Company $WFC

Nilsine Partners LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 175.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 30,323 shares of the financial services provider’s stock after acquiring an additional 19,295 shares during the period. Nilsine Partners LLC’s holdings in Wells Fargo & Company were worth $2,506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Godfrey Financial Associates Inc. bought a new position in Wells Fargo & Company in the 4th quarter valued at about $25,000. Miller Capital Partners Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Navalign LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $26,000. Phillip James Consulting Co. bought a new position in shares of Wells Fargo & Company during the first quarter worth approximately $28,000. Finally, Core Wealth Advisors LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on WFC. JPMorgan Chase & Co. increased their price objective on Wells Fargo & Company from $93.50 to $95.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Robert W. Baird lifted their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a report on Friday, July 17th. Finally, UBS Group reduced their target price on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $98.61.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $89.90 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $271.86 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 0.98 and a beta of 0.92. The firm’s 50 day simple moving average is $86.69 and its 200 day simple moving average is $82.63. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The business had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the previous year, the business earned $1.60 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. As a group, research analysts expect that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, August 7th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio is 29.07%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.