Pure Financial Advisors LLC Grows Position in Wells Fargo & Company (NYSE:WFC)

Pure Financial Advisors LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFC – Get Rating) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,041 shares of the financial services provider’s stock after purchasing an additional 362 shares during the period. Pure Financial Advisors LLC’s holdings in Wells Fargo & Company were worth $680,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WFC. Level Financial Advisors Inc. purchased a new position in Wells Fargo & Company during the fourth quarter valued at $25,000. Gibson Wealth Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at $25,000. KRS Capital Management LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at $28,000. Addison Advisors LLC lifted its position in Wells Fargo & Company by 141.0% during the fourth quarter. Addison Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 368 shares in the last quarter. Finally, US Asset Management LLC purchased a new position in shares of Wells Fargo & Company in the first quarter valued at about $32,000. Institutional investors own 74.01% of the company’s stock.

In other Wells Fargo & Company news, EVP Kleber Santos sold 22,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total transaction of $1,008,788.00. Following the completion of the transaction, the executive vice president now owns 21,478 shares in the company, valued at $954,482.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.05% of the stock is owned by insiders.

Several equities analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on Wells Fargo & Company from $54.00 to $56.00 in a research report on Thursday, April 14th. BMO Capital Markets lowered their price objective on Wells Fargo & Company from $64.00 to $60.00 and set a “market perform” rating on the stock in a research report on Monday, April 18th. Raymond James lowered their price objective on Wells Fargo & Company from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, April 18th. StockNews.com assumed coverage on Wells Fargo & Company in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Barclays boosted their price objective on Wells Fargo & Company from $62.00 to $64.00 in a research report on Monday, April 18th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $57.62.

Shares of NYSE WFC opened at $38.60 on Thursday. The business’s 50 day moving average is $43.55 and its two-hundred day moving average is $49.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.80 and a quick ratio of 0.79. Wells Fargo & Company has a 1-year low of $36.54 and a 1-year high of $60.30. The stock has a market capitalization of $146.31 billion, a P/E ratio of 8.02, a PEG ratio of 0.93 and a beta of 1.13.

Wells Fargo & Company (NYSE:WFC – Get Rating) last issued its quarterly earnings data on Thursday, April 14th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.07. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The company had revenue of $17.59 billion for the quarter, compared to analysts’ expectations of $17.82 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities research analysts anticipate that Wells Fargo & Company will post 4.07 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 6th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, May 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.59%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 20.79%.

About Wells Fargo & Company (Get Rating)

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

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