Marble Harbor Investment Counsel LLC Purchases 1,479 Shares of Wells Fargo & Company (NYSE:WFC)

Marble Harbor Investment Counsel LLC grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.2% in the second quarter, Holdings Channel reports. The fund owned 125,168 shares of the financial services provider’s stock after buying an additional 1,479 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Wells Fargo & Company were worth $7,434,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on WFC shares. BMO Capital Markets boosted their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods reduced their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. The Goldman Sachs Group dropped their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Tuesday, September 3rd. Finally, Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and decreased their price objective for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $60.29.

Wells Fargo & Company Trading Up 2.3 %

NYSE WFC 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 company has a market capitalization of $184.01 billion, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16. The company’s 50-day simple moving average is $56.60 and its two-hundred day simple moving average is $57.93.

Wells Fargo & Company (NYSE:WFC) last issued 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. The company had revenue of $20.69 billion for the quarter, compared to analyst estimates 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 revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $1.25 earnings per share. Equities analysts forecast 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. Investors of record on Friday, August 9th were given a dividend of $0.40 per share. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 3.03%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.