Resonant Capital Advisors Llc has $479,000 position in Wells Fargo & Company (NYSE:WFC)

Resonant Capital Advisors LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 26.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 8,060 shares of the financial services provider’s stock after acquiring an additional 1,669 shares during the period. Resonant Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $479,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in WFC. Financial Counselors Inc. grew its position in shares of Wells Fargo & Company by 22.6% in the second quarter. Financial Counselors Inc. now owns 18,637 shares of the financial services provider’s stock valued at $1,107,000 after acquiring an additional 3,441 shares during the period. Natixis Advisors LLC boosted its position in shares of Wells Fargo & Company by 7.7% in the second quarter. Natixis Advisors LLC now owns 2,865,576 shares of the financial services provider’s stock worth $170,187,000 after purchasing an additional 204,741 shares during the last quarter. Equitable Trust Co. raised its stake in Wells Fargo & Company by 12.1% during the second quarter. Equitable Trust Co. now owns 20,035 shares of the financial services provider’s stock worth $1,190,000 after buying an additional 2,160 shares during the period. Valmark Advisers Inc. raised its stake in Wells Fargo & Company by 18.2% during the second quarter. Valmark Advisers Inc. now owns 8,564 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 1,321 shares during the period. Finally, Capital Management Associates Inc bought a new position in Wells Fargo & Company in the second quarter valued at about $245,000. 75.90% of shares are held by institutional investors and hedge funds.

Wells Fargo & Company trading rose 2.0%

Shares of WFC stock opened at $58.47 on Tuesday. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The company has a market cap of $203.84 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.43 and a beta of 1.17. The firm has a 50 day moving average price of $57.39 and a two hundred day moving average price of $57.83. The company has a quick ratio of 0.85, a current ratio of 0.86, and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC – Get Free Report ) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s revenue for the quarter was up 0.8% compared to the same quarter last year. In the same period last year, the firm posted EPS of $1.25. As a group, analysts predict that Wells Fargo & Company will post 5.15 earnings per share for the current year.

Wells Fargo & Company raised its dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a $0.40 dividend. This represents a dividend of $1.60 on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Friday, August 9. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is currently 32.85%.

Analysts set new price targets

Several brokerages have issued reports on WFC. Keefe, Bruyette & Woods cut their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, July 15th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and cut their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Evercore ISI restated an “outperform” rating and issued a $67.00 target price (down from $70.00) on shares of Wells Fargo & Company in a report on Monday, July 15th. Finally, BMO Capital Markets raised their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday. July 11. Thirteen research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $59.63, according to MarketBeat.

See the latest stock analysis on Wells Fargo & Company

Wells Fargo & Company Profile

(Free Report)

Wells Fargo & Company, a financial services company, offers diversified banking, investment, mortgage and consumer and commercial financing products in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Bank; Corporate and Investment Banking; and Wealth and Investment Management.

Read more

Want to see what other hedge funds own WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC – Free Report).

Get daily news and ratings for Wells Fargo & Company – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Wells Fargo & Company and related companies with MarketBeat.com’s FREE daily email newsletter.