Mather Group LLC. Increases Position in Wells Fargo & Company (NYSE:WFC)

Mather Group LLC. grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 12.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 18,743 shares of the financial services provider’s stock after purchasing an additional 2,022 shares during the period. Mather Group LLC.’s holdings in Wells Fargo & Company were worth $1,086,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Great Waters Wealth Management purchased a new stake in Wells Fargo & Company during the 2nd quarter valued at about $395,000. Trust Co. of Toledo NA OH lifted its stake in shares of Wells Fargo & Company by 1.1% in the second quarter. Trust Co. of Toledo NA OH now owns 24,004 shares of the financial services provider’s stock worth $1,426,000 after buying an additional 264 shares in the last quarter. Quent Capital LLC increased its position in shares of Wells Fargo & Company by 7.5% during the second quarter. Quent Capital LLC now owns 11,326 shares of the financial services provider’s stock valued at $673,000 after acquiring an additional 792 shares in the last quarter. BancFirst Trust & Investment Management increased its position in shares of Wells Fargo & Company by 3.9% during the second quarter. BancFirst Trust & Investment Management now owns 8,285 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 309 shares in the last quarter. Finally, Bank & Trust Co purchased a new position in Wells Fargo & Company in the 2nd quarter worth approximately $121,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

NYSE WFC traded up $0.38 on Wednesday, hitting $52.74. 6,304,145 shares of the company traded hands, compared to its average volume of 18,173,076. The business’s 50 day moving average price is $58.56 and its 200-day moving average price is $57.02. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $183.87 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 1.40 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share 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 business’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. Equities analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Friday, August 9th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.60 annualized dividend 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 payout ratio is currently 32.85%.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their target price on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Argus boosted their target price on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods dropped their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Thirteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.91.

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.