Silver Oak Securities Incorporated Raises Holdings in Wells Fargo & Company $WFC

Silver Oak Securities Incorporated lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 231.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,335 shares of the financial services provider’s stock after buying an additional 7,216 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Wells Fargo & Company were worth $866,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in WFC. Access Investment Management LLC purchased a new position in Wells Fargo & Company during the 2nd quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its holdings in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after buying an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC bought a new position in Wells Fargo & Company in the second quarter worth approximately $27,000. 1248 Management LLC bought a new position in Wells Fargo & Company in the first quarter worth approximately $31,000. Finally, Kilter Group LLC purchased a new stake in Wells Fargo & Company during the second quarter worth $31,000. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. UBS Group cut their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Barclays lifted their target price on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Bank of America raised their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, TD Cowen lifted their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $92.04.

Wells Fargo & Company Trading Up 2.1%

Wells Fargo & Company stock opened at $95.15 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $298.68 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 0.87 and a beta of 1.09. The stock has a 50-day moving average of $88.82 and a two-hundred day moving average of $83.76. Wells Fargo & Company has a one year low of $58.42 and a one year high of $95.85.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.18. The firm had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.42 earnings per share. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 1.9%. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.