Private Wealth Group LLC Grows Position in Wells Fargo & Company $WFC

Private Wealth Group LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 7.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,490 shares of the financial services provider’s stock after purchasing an additional 320 shares during the quarter. Private Wealth Group LLC’s holdings in Wells Fargo & Company were worth $360,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC grew its stake in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after buying an additional 322 shares during the period. Motco grew its stake in Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after buying an additional 326 shares during the period. Accent Capital Management LLC purchased a new stake in Wells Fargo & Company during the first quarter worth approximately $29,000. 1248 Management LLC purchased a new stake in Wells Fargo & Company during the first quarter worth approximately $31,000. Finally, Stone House Investment Management LLC purchased a new stake in Wells Fargo & Company during the first quarter worth approximately $34,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WFC shares. The Goldman Sachs Group decreased their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Piper Sandler reissued an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Morgan Stanley cut shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $87.00 to $90.00 in a research report on Monday, September 29th. Finally, Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.74.

Wells Fargo & Company Trading Up 0.2%

WFC opened at $80.63 on Friday. The stock has a market capitalization of $258.28 billion, a PE ratio of 13.81, a P/E/G ratio of 1.24 and a beta of 1.25. The firm’s fifty day moving average price is $80.77 and its 200 day moving average price is $76.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a 12-month low of $55.98 and a 12-month high of $86.65.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly 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. The firm had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a $0.45 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend 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.