Wells Fargo & Company $WFC Stake Raised by Consilium Wealth Advisory LLC

Consilium Wealth Advisory LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,928 shares of the financial services provider’s stock after acquiring an additional 503 shares during the quarter. Wells Fargo & Company accounts for approximately 6.0% of Consilium Wealth Advisory LLC’s investment portfolio, making the stock its 5th biggest holding. Consilium Wealth Advisory LLC’s holdings in Wells Fargo & Company were worth $14,176,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Wealth Management Partners LLC boosted its stake in shares of Wells Fargo & Company by 3.5% during the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after acquiring an additional 128 shares in the last quarter. Verum Partners LLC boosted its stake in shares of Wells Fargo & Company by 1.8% during the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after acquiring an additional 128 shares in the last quarter. Motive Wealth Advisors boosted its stake in shares of Wells Fargo & Company by 3.7% during the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 129 shares in the last quarter. Lynch & Associates IN boosted its stake in shares of Wells Fargo & Company by 2.0% during the 2nd quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider’s stock worth $539,000 after acquiring an additional 135 shares in the last quarter. Finally, Financial Management Professionals Inc. boosted its stake in shares of Wells Fargo & Company by 19.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 854 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 138 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WFC. Piper Sandler reaffirmed an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Evercore ISI raised their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wells Fargo & Company in a research note on Saturday, September 27th. The Goldman Sachs Group decreased their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Finally, Truist Financial raised their price target on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Nine investment 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.74.

Wells Fargo & Company Stock Up 0.2%

WFC stock opened at $80.63 on Friday. The company has a market cap of $258.28 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.24 and a beta of 1.25. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 12 month low of $55.98 and a 12 month high of $86.65. The firm has a 50-day moving average of $80.77 and a two-hundred day moving average of $76.28.

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

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s payout ratio is currently 30.82%.

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.