3,855 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by Black Diamond Financial LLC

Black Diamond Financial LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the second quarter, HoldingsChannel.com reports. The firm bought 3,855 shares of the financial services provider’s stock, valued at approximately $229,000.

Other hedge funds also recently made changes to their positions in the company. Core Wealth Advisors Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Transcendent Capital Group LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth $32,000. Beaird Harris Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $34,000. Valued Wealth Advisors LLC raised its stake in Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its stake in Wells Fargo & Company by 704.3% during the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after buying an additional 648 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WFC. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and dropped their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. The Goldman Sachs Group reduced their target price on 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 boosted 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. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, September 3rd. Finally, 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 research note on Thursday, July 11th. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.29.

Wells Fargo & Company Stock Up 2.3 %

Wells Fargo & Company stock opened at $52.78 on Monday. The firm has a market cap of $184.01 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 1.27 and a beta of 1.16. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week 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 has a 50 day moving average price of $56.60 and a two-hundred day moving average price of $57.93.

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

Wells Fargo & Company Increases Dividend

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