Montz Harcus Wealth Management LLC Makes New $222,000 Investment in Wells Fargo & Company $WFC

Montz Harcus Wealth Management LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,765 shares of the financial services provider’s stock, valued at approximately $222,000.

A number of other institutional investors also recently bought and sold shares of WFC. Brighton Jones LLC raised its position in Wells Fargo & Company by 62.3% during the 4th 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 during the last quarter. Annex Advisory Services LLC raised its position in Wells Fargo & Company by 20.1% during the 1st quarter. Annex Advisory Services LLC now owns 6,008 shares of the financial services provider’s stock worth $431,000 after buying an additional 1,007 shares during the last quarter. Vest Financial LLC raised its position in Wells Fargo & Company by 73.5% during the 1st quarter. Vest Financial LLC now owns 27,256 shares of the financial services provider’s stock worth $1,957,000 after buying an additional 11,547 shares during the last quarter. Foster Group Inc. raised its position in Wells Fargo & Company by 5.0% during the 1st quarter. Foster Group Inc. now owns 41,396 shares of the financial services provider’s stock worth $2,972,000 after buying an additional 1,974 shares during the last quarter. Finally, MRA Advisory Group raised its position in Wells Fargo & Company by 17.0% during the 1st quarter. MRA Advisory Group now owns 3,651 shares of the financial services provider’s stock worth $262,000 after buying an additional 530 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WFC has been the subject of several recent research reports. Morgan Stanley lowered shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $87.00 to $90.00 in a report on Monday, September 29th. The Goldman Sachs Group cut their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Dbs Bank raised shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wells Fargo & Company in a report on Saturday, September 27th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.74.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $80.63 on Friday. The firm has a market cap of $258.28 billion, a PE ratio of 13.81, a PEG ratio of 1.24 and a beta of 1.25. The firm has a fifty day moving average of $80.77 and a 200 day moving average of $76.28. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a one year low of $55.98 and a one year high of $86.65.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.41 by $0.13. The company had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.33 EPS. As a group, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, August 8th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s payout ratio is presently 30.82%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.