Franklin Street Advisors Inc. NC Has $3.41 Million Stock Position in Wells Fargo & Company $WFC

Franklin Street Advisors Inc. NC lowered its position in Wells Fargo & Company (NYSE:WFC) by 0.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 42,601 shares of the financial services provider’s stock after selling 220 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Wells Fargo & Company were worth $3,413,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after buying an additional 949,735,001 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Wells Fargo & Company by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock valued at $1,471,259,000 after buying an additional 128,207 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Wells Fargo & Company by 277.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock valued at $771,092,000 after buying an additional 7,894,919 shares in the last quarter. Boston Partners increased its position in shares of Wells Fargo & Company by 6.2% in the 1st quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock valued at $640,616,000 after buying an additional 523,107 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Wells Fargo & Company by 10.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,009,440 shares of the financial services provider’s stock valued at $431,418,000 after buying an additional 544,473 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.2%

Shares of NYSE:WFC opened at $80.63 on Friday. Wells Fargo & Company has a 52-week low of $55.98 and a 52-week high of $86.65. The company has a market capitalization of $258.28 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. The company has a 50-day simple moving average of $80.77 and a 200 day simple moving average of $76.28. 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 earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same period last year, the business posted $1.33 EPS. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.2%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 30.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WFC shares. Truist Financial increased their target price on Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Citigroup increased their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Wells Fargo & Company in a report on Saturday, September 27th. Finally, Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.74.

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.