Lion Street Advisors LLC Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Lion Street Advisors LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,438 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other institutional investors also recently bought and sold shares of the stock. Core Wealth Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $25,000. Tennessee Valley Asset Management Partners purchased a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $29,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $32,000. Transcendent Capital Group LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth $32,000. Finally, Bfsg LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $34,000. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WFC shares. JPMorgan Chase & Co. raised their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods lowered their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, July 15th. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Finally, Argus upped their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Thirteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $59.91.

Wells Fargo & Company Stock Up 0.8 %

Shares of NYSE WFC traded up $0.40 during midday trading on Friday, reaching $52.76. 11,668,975 shares of the company’s stock traded hands, compared to its average volume of 18,196,924. The stock’s 50 day simple moving average is $58.16 and its 200-day simple moving average is $56.99. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The company has a market cap of $183.94 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 1.40 and a beta of 1.17. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business’s revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $1.25 EPS. On average, analysts predict that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 9th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is 32.85%.

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.