Koss Olinger Consulting LLC Grows Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Koss Olinger Consulting LLC lifted its position in Wells Fargo & Company (NYSE:WFC) by 581.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,501 shares of the financial services provider’s stock after purchasing an additional 33,701 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Wells Fargo & Company were worth $2,346,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Core Wealth Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $25,000. Transcendent Capital Group LLC purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $32,000. Atlantic Edge Private Wealth Management LLC bought a new position in Wells Fargo & Company during the 4th quarter valued at approximately $34,000. Beaird Harris Wealth Management LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $34,000. Finally, VisionPoint Advisory Group LLC grew its position in shares of Wells Fargo & Company by 180.4% in the 4th quarter. VisionPoint Advisory Group LLC now owns 715 shares of the financial services provider’s stock worth $35,000 after buying an additional 460 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Down 5.0 %

Shares of NYSE WFC opened at $54.00 on Friday. The firm’s 50 day moving average price is $57.31 and its 200-day moving average price is $57.93. 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 company has a market cap of $188.26 billion, a PE ratio of 11.09, a P/E/G ratio of 1.43 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released 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 in the prior year, the firm posted $1.25 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, equities research analysts expect that Wells Fargo & Company will post 5.15 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.96%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of research analyst reports. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and dropped their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Tuesday, September 3rd. Evercore ISI decreased their price target on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday. Morgan Stanley lifted their price objective on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods decreased their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, July 15th. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $60.29.

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.