Steigerwald Gordon & Koch Inc. Purchases 4,468 Shares of Wells Fargo & Company (NYSE:WFC)

Steigerwald Gordon & Koch Inc. lifted its stake in Wells Fargo & Company (NYSE:WFC) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 326,151 shares of the financial services provider’s stock after purchasing an additional 4,468 shares during the period. Wells Fargo & Company accounts for approximately 2.3% of Steigerwald Gordon & Koch Inc.’s holdings, making the stock its 16th largest holding. Steigerwald Gordon & Koch Inc.’s holdings in Wells Fargo & Company were worth $19,370,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. John W. Brooker & Co. CPAs raised its holdings in Wells Fargo & Company by 2.5% during the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after acquiring an additional 171 shares in the last quarter. McAdam LLC boosted its holdings in shares of Wells Fargo & Company by 3.3% in the 2nd quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 178 shares in the last quarter. Prentice Wealth Management LLC lifted its stake in shares of Wells Fargo & Company by 2.0% in the 2nd quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock valued at $560,000 after acquiring an additional 184 shares during the last quarter. Clearstead Trust LLC lifted its stake in shares of Wells Fargo & Company by 13.0% in the 1st quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 186 shares during the last quarter. Finally, Fortitude Family Office LLC raised its position in Wells Fargo & Company by 3.4% during the 2nd quarter. Fortitude Family Office LLC now owns 5,897 shares of the financial services provider’s stock worth $350,000 after purchasing an additional 193 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WFC shares. Morgan Stanley lifted their price objective on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and dropped their target price for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Evercore ISI lowered their price target on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Tuesday, September 3rd. Finally, Keefe, Bruyette & Woods cut their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, July 15th. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $60.29.

Wells Fargo & Company Stock Performance

NYSE:WFC traded up $1.26 during trading hours on Tuesday, hitting $55.85. 3,176,489 shares of the company were exchanged, compared to its average volume of 17,711,012. The company’s 50 day moving average price is $57.19 and its 200-day moving average price is $57.97. The stock has a market capitalization of $190.10 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.27 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued its 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. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. During the same period in the previous year, the firm posted $1.25 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts forecast that Wells Fargo & Company will post 5.15 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.86%. Wells Fargo & Company’s dividend payout ratio is 32.85%.

About Wells Fargo & Company

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