Valley National Advisers Inc. Has $797,000 Stock Position in Wells Fargo & Company $WFC

Valley National Advisers Inc. grew its position in Wells Fargo & Company (NYSE:WFC) by 5.7% in the second quarter, HoldingsChannel.com reports. The fund owned 9,962 shares of the financial services provider’s stock after buying an additional 540 shares during the quarter. Valley National Advisers Inc.’s holdings in Wells Fargo & Company were worth $797,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cullinan Associates Inc. raised its holdings in Wells Fargo & Company by 0.5% in the second quarter. Cullinan Associates Inc. now owns 43,166 shares of the financial services provider’s stock worth $3,458,000 after purchasing an additional 220 shares during the period. Knights of Columbus Asset Advisors LLC increased its holdings in shares of Wells Fargo & Company by 4.0% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 196,015 shares of the financial services provider’s stock valued at $15,705,000 after purchasing an additional 7,451 shares during the last quarter. Marks Group Wealth Management Inc grew its holdings in Wells Fargo & Company by 10.8% in the 2nd quarter. Marks Group Wealth Management Inc now owns 33,418 shares of the financial services provider’s stock valued at $2,677,000 after buying an additional 3,245 shares in the last quarter. Global Assets Advisory LLC bought a new position in Wells Fargo & Company during the 2nd quarter worth $597,000. Finally, Grimes & Company Inc. increased its stake in Wells Fargo & Company by 6.2% in the second quarter. Grimes & Company Inc. now owns 33,997 shares of the financial services provider’s stock valued at $2,724,000 after acquiring an additional 1,987 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.2%

Wells Fargo & Company stock opened at $80.63 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The firm has a market cap of $258.28 billion, a PE ratio of 13.81, a P/E/G ratio of 1.24 and a beta of 1.25. Wells Fargo & Company has a 12 month low of $55.98 and a 12 month high of $86.65. The stock’s 50 day simple moving average is $80.77 and its two-hundred day simple moving average is $76.33.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 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 firm had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the previous year, the company earned $1.33 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current 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 given a dividend of $0.45 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company’s dividend payout ratio is presently 30.82%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. The Goldman Sachs Group reduced their price target on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Citigroup lifted their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Finally, Truist Financial increased their price target on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $83.74.

About Wells Fargo & Company

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.