12,889 Shares in Wells Fargo & Company $WFC Acquired by Shakespeare Wealth Management LLC

Shakespeare Wealth Management LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,889 shares of the financial services provider’s stock, valued at approximately $1,032,000.

Other institutional investors also recently bought and sold shares of the company. Essential Investment Partners LLC raised its stake in Wells Fargo & Company by 44.2% in the third quarter. Essential Investment Partners LLC now owns 2,086 shares of the financial services provider’s stock valued at $167,000 after buying an additional 639 shares during the last quarter. BOKF NA grew its stake in shares of Wells Fargo & Company by 1.5% during the third quarter. BOKF NA now owns 155,070 shares of the financial services provider’s stock worth $12,413,000 after acquiring an additional 2,272 shares during the last quarter. North Dakota State Investment Board increased its holdings in shares of Wells Fargo & Company by 5.9% during the third quarter. North Dakota State Investment Board now owns 95,660 shares of the financial services provider’s stock valued at $7,658,000 after acquiring an additional 5,351 shares in the last quarter. Stockman Wealth Management Inc. increased its holdings in shares of Wells Fargo & Company by 16.9% during the third quarter. Stockman Wealth Management Inc. now owns 9,863 shares of the financial services provider’s stock valued at $790,000 after acquiring an additional 1,424 shares in the last quarter. Finally, Laurel Wealth Advisors LLC increased its holdings in shares of Wells Fargo & Company by 1.2% during the third quarter. Laurel Wealth Advisors LLC now owns 25,910 shares of the financial services provider’s stock valued at $2,074,000 after acquiring an additional 300 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on WFC. Keefe, Bruyette & Woods decreased their price objective on shares of Wells Fargo & Company from $94.00 to $90.00 and set a “market perform” rating for the company in a research report on Wednesday, October 14th. Citigroup dropped their target price on shares of Wells Fargo & Company from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Bank of America upped their price target on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. decreased their price target on shares of Wells Fargo & Company from $95.50 to $91.50 and set a “neutral” rating for the company in a report on Friday, October 2nd. Finally, The Goldman Sachs Group set a $94.00 price target on shares of Wells Fargo & Company in a report on Tuesday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.08.

Wells Fargo & Company Trading Up 1.3%

Wells Fargo & Company stock opened at $83.77 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.89 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. The company has a market capitalization of $253.32 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 0.88 and a beta of 0.96. The stock has a 50-day moving average price of $84.36 and a 200 day moving average price of $83.81.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, October 13th. The financial services provider reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. Wells Fargo & Company had a return on equity of 14.05% and a net margin of 17.64%. The firm had revenue of $21.87 billion for the quarter, compared to analyst estimates of $22.30 billion. During the same quarter in the prior year, the firm earned $1.66 earnings per share. Wells Fargo & Company’s revenue for the quarter was up 2.0% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 7.27 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be paid 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, November 6th. Wells Fargo & Company’s payout ratio is presently 28.21%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.