Wells Fargo & Company (NYSE:WFC) Shares Purchased by Mayflower Financial Advisors LLC

Mayflower Financial Advisors LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 14.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,132 shares of the financial services provider’s stock after purchasing an additional 661 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Wells Fargo & Company were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $2,623,044,000. Capital World Investors grew its holdings in shares of Wells Fargo & Company by 1.0% during the 4th quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock worth $1,295,459,000 after purchasing an additional 263,176 shares during the period. Sanders Capital LLC grew its holdings in shares of Wells Fargo & Company by 3.2% during the 4th quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock worth $1,241,231,000 after purchasing an additional 781,772 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Wells Fargo & Company by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,941,772 shares of the financial services provider’s stock worth $932,352,000 after purchasing an additional 596,521 shares during the period. Finally, California State Teachers Retirement System grew its holdings in shares of Wells Fargo & Company by 0.4% during the 4th quarter. California State Teachers Retirement System now owns 5,905,934 shares of the financial services provider’s stock worth $290,690,000 after purchasing an additional 25,896 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC stock opened at $56.86 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The firm has a market cap of $198.23 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.43 and a beta of 1.17. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The stock’s 50 day simple moving average is $57.42 and its 200 day simple moving average is $57.87.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same period in the prior year, the company posted $1.25 EPS. The business’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts predict that Wells Fargo & Company will post 5.15 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a $0.40 dividend. 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. This represents a $1.60 annualized dividend and a yield of 2.81%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Tuesday. BMO Capital Markets boosted their target price 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. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and decreased their price target for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Keefe, Bruyette & Woods decreased 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. Finally, Morgan Stanley upped their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.41.

Wells Fargo & Company Profile

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.