MSH Capital Advisors LLC Purchases Shares of 6,904 Wells Fargo & Company $WFC

MSH Capital Advisors LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 6,904 shares of the financial services provider’s stock, valued at approximately $571,000.

Several other institutional investors have also recently made changes to their positions in the company. Bryn Mawr Trust Advisors LLC purchased a new position in Wells Fargo & Company in the 2nd quarter worth approximately $658,000. Swiss Life Asset Management Ltd increased its stake in Wells Fargo & Company by 4.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider’s stock valued at $32,673,000 after acquiring an additional 14,168 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Wells Fargo & Company by 4.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider’s stock valued at $38,446,000 after acquiring an additional 17,302 shares during the last quarter. Norges Bank purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $4,512,563,000. Finally, Winning Points Advisors LLC purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $3,384,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $83.83 on Monday. The company has a 50-day simple moving average of $86.08 and a two-hundred day simple moving average of $82.91. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76. The firm has a market cap of $253.50 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.91 and a beta of 0.92.

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

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, August 7th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio is 29.07%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WFC shares. Raymond James Financial reiterated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. UBS Group decreased their price objective on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Bank of America boosted their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods cut their target price on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research note on Wednesday, July 15th. Finally, Morgan Stanley increased their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.61.

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.