Flputnam Investment Management Co. Has $1.04 Million Stock Position in Wells Fargo & Company $WFC

Flputnam Investment Management Co. lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 75.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,628 shares of the financial services provider’s stock after selling 39,860 shares during the quarter. Flputnam Investment Management Co.’s holdings in Wells Fargo & Company were worth $1,044,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WFC. Brighton Jones LLC grew its position in Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after buying an additional 25,436 shares in the last quarter. Jump Financial LLC increased its stake in Wells Fargo & Company by 12.9% during the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock valued at $1,835,000 after acquiring an additional 2,615 shares during the period. Main Street Financial Solutions LLC increased its stake in Wells Fargo & Company by 111.0% during the second quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock valued at $1,122,000 after acquiring an additional 7,368 shares during the period. Vivaldi Capital Management LP raised its holdings in Wells Fargo & Company by 5.4% in the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 165 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its holdings in Wells Fargo & Company by 51.2% in the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock valued at $2,044,000 after acquiring an additional 8,714 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent research reports. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Robert W. Baird raised their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $86.42 on Tuesday. The business has a 50 day simple moving average of $86.32 and a 200 day simple moving average of $82.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $261.33 billion, a PE ratio of 12.56, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The firm had revenue of $22.62 billion for the quarter, compared to analysts’ expectations of $21.86 billion. During the same period in the prior year, the business posted $1.60 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts forecast that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be paid a $0.50 dividend. The ex-dividend date is Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio is presently 29.07%.

Wells Fargo & Company Profile

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.