Evernest Financial Advisors LLC Raises Position in Wells Fargo & Company (NYSE:WFC)

Evernest Financial Advisors LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 18.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,304 shares of the financial services provider’s stock after buying an additional 963 shares during the period. Evernest Financial Advisors LLC’s holdings in Wells Fargo & Company were worth $453,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Headlands Technologies LLC lifted its stake in Wells Fargo & Company by 13.4% during the 1st quarter. Headlands Technologies LLC now owns 67,118 shares of the financial services provider’s stock valued at $4,818,000 after acquiring an additional 7,938 shares in the last quarter. Waycross Partners LLC lifted its position in shares of Wells Fargo & Company by 38.7% during the first quarter. Waycross Partners LLC now owns 454,512 shares of the financial services provider’s stock valued at $32,629,000 after purchasing an additional 126,894 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new position in Wells Fargo & Company during the first quarter worth about $8,192,000. ASR Vermogensbeheer N.V. purchased a new position in Wells Fargo & Company during the first quarter worth about $22,374,000. Finally, Citizens Financial Group Inc. RI grew its position in Wells Fargo & Company by 73.2% in the 1st quarter. Citizens Financial Group Inc. RI now owns 284,194 shares of the financial services provider’s stock worth $20,402,000 after purchasing an additional 120,085 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the subject of a number of research analyst reports. Truist Financial increased their price target on Wells Fargo & Company from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Citigroup reaffirmed a “neutral” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Barclays decreased their price objective on shares of Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Dbs Bank upgraded shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.39.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $77.60 on Thursday. Wells Fargo & Company has a 52-week low of $50.22 and a 52-week high of $84.83. The company has a fifty day moving average of $78.81 and a 200-day moving average of $74.97. The company has a market capitalization of $252.53 billion, a P/E ratio of 13.29, a P/E/G ratio of 1.21 and a beta of 1.20. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.13. The firm had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 earnings per share. As a group, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 8th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, August 8th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. Wells Fargo & Company’s dividend payout ratio (DPR) is 27.40%.

Wells Fargo & Company declared that its board has approved a stock repurchase program on Tuesday, April 29th that allows the company to buyback $40.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.