Waycross Partners LLC Buys 31,033 Shares of Wells Fargo & Company (NYSE:WFC)

Waycross Partners LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 12.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 282,039 shares of the financial services provider’s stock after buying an additional 31,033 shares during the period. Wells Fargo & Company comprises 2.6% of Waycross Partners LLC’s holdings, making the stock its 13th biggest holding. Waycross Partners LLC’s holdings in Wells Fargo & Company were worth $16,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Core Wealth Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Valued Wealth Advisors LLC lifted its holdings in shares of Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after buying an additional 220 shares during the period. Transcendent Capital Group LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at $32,000. Beaird Harris Wealth Management LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at $34,000. Finally, J.Safra Asset Management Corp raised its holdings in shares of Wells Fargo & Company by 704.3% in the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 648 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent research reports. The Goldman Sachs Group dropped their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. BMO Capital Markets boosted their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods dropped their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Tuesday, September 3rd. Twelve investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $60.29.

Wells Fargo & Company Stock Up 2.3 %

WFC stock opened at $52.78 on Monday. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The firm’s fifty day moving average is $56.60 and its 200 day moving average is $57.93. The firm has a market cap of $184.01 billion, a PE ratio of 10.84, a P/E/G ratio of 1.27 and a beta of 1.16.

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

Wells Fargo & Company Increases Dividend

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

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.