Waycross Partners LLC Raises Position in Wells Fargo & Company (NYSE:WFC)

Waycross Partners LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 12.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 282,039 shares of the financial services provider’s stock after acquiring an additional 31,033 shares during the quarter. Wells Fargo & Company makes up about 2.6% of Waycross Partners LLC’s holdings, making the stock its 13th largest holding. Waycross Partners LLC’s holdings in Wells Fargo & Company were worth $16,750,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. 9258 Wealth Management LLC raised its position in shares of Wells Fargo & Company by 4.1% in the fourth quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock valued at $638,000 after buying an additional 516 shares during the last quarter. Gryphon Financial Partners LLC lifted its stake in Wells Fargo & Company by 93.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 26,467 shares of the financial services provider’s stock worth $1,246,000 after purchasing an additional 12,778 shares in the last quarter. AMG National Trust Bank boosted its holdings in shares of Wells Fargo & Company by 4.5% during the 4th quarter. AMG National Trust Bank now owns 15,803 shares of the financial services provider’s stock worth $778,000 after purchasing an additional 687 shares during the last quarter. Thoroughbred Financial Services LLC grew its position in shares of Wells Fargo & Company by 9.6% in the fourth quarter. Thoroughbred Financial Services LLC now owns 41,265 shares of the financial services provider’s stock valued at $2,031,000 after purchasing an additional 3,623 shares in the last quarter. Finally, Associated Banc Corp increased its holdings in shares of Wells Fargo & Company by 7.2% in the fourth quarter. Associated Banc Corp now owns 50,607 shares of the financial services provider’s stock valued at $2,491,000 after purchasing an additional 3,419 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WFC shares. Evercore ISI lowered their price objective on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Morgan Stanley upped 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 target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and cut their price target for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Finally, The Goldman Sachs Group reduced their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $60.29.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $52.78 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The firm has a market cap of $184.01 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16. The company’s 50 day moving average is $56.60 and its two-hundred day moving average is $57.93.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data 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 analysts’ expectations of $20.29 billion. During the same period last year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, research analysts expect that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.03%. Wells Fargo & Company’s payout ratio is currently 32.85%.

Wells Fargo & Company 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.