Tyche Wealth Partners LLC Grows Stock Holdings in Wells Fargo & Company $WFC

Tyche Wealth Partners LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 11.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,008 shares of the financial services provider’s stock after acquiring an additional 1,529 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $1,202,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Accretive Wealth Partners LLC acquired a new stake in Wells Fargo & Company in the first quarter worth about $399,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Wells Fargo & Company by 10.4% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock worth $54,471,000 after acquiring an additional 71,740 shares in the last quarter. Secured Retirement Advisors LLC acquired a new stake in Wells Fargo & Company in the first quarter worth about $408,000. RKL Wealth Management LLC boosted its holdings in Wells Fargo & Company by 166.4% in the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock worth $588,000 after acquiring an additional 5,113 shares in the last quarter. Finally, Three Bridge Wealth Advisors LLC acquired a new stake in Wells Fargo & Company in the second quarter worth about $364,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the subject of a number of research reports. Evercore ISI lifted their target price on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Dbs Bank raised Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Raymond James Financial downgraded Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Morgan Stanley downgraded Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $87.00 to $90.00 in a report on Monday, September 29th. Finally, The Goldman Sachs Group decreased their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.74.

Wells Fargo & Company Trading Down 0.0%

Shares of NYSE:WFC opened at $80.63 on Tuesday. Wells Fargo & Company has a 12-month low of $56.80 and a 12-month high of $86.65. The company has a market capitalization of $258.29 billion, a PE ratio of 13.81, a PEG ratio of 1.24 and a beta of 1.25. The business has a 50 day moving average of $80.72 and a two-hundred day moving average of $76.39. 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 (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same period in the previous year, the company posted $1.33 earnings per share. Wells Fargo & Company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is a boost 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 2.2%. Wells Fargo & Company’s dividend payout ratio is presently 30.82%.

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.