Wynn Capital LLC Buys 1,010 Shares of Wells Fargo & Company (NYSE:WFC)

Wynn Capital LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,566 shares of the financial services provider’s stock after buying an additional 1,010 shares during the period. Wells Fargo & Company accounts for approximately 1.6% of Wynn Capital LLC’s investment portfolio, making the stock its 13th biggest position. Wynn Capital LLC’s holdings in Wells Fargo & Company were worth $2,405,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company in the second quarter valued at approximately $26,000. Transcendent Capital Group LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $32,000. Beaird Harris Wealth Management LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $34,000. Finally, Valued Wealth Advisors LLC increased its holdings in shares of Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $60.99 on Friday. The business has a 50 day moving average of $55.39 and a 200-day moving average of $57.78. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 1 year low of $38.58 and a 1 year high of $62.55. The company has a market capitalization of $212.63 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.46 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter last year, the firm earned $1.39 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities research analysts predict that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is 32.85%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WFC shares. Keefe, Bruyette & Woods cut their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, July 15th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and lowered their price target for the company from $62.00 to $59.00 in a report on Friday, August 16th. BMO Capital Markets boosted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Evercore ISI lifted their price target on Wells Fargo & Company from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley decreased their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $60.65.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.