JFS Wealth Advisors LLC raised its stake in shares of Wells Fargo & Company (NYSE:WFC – Free Report) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,856 shares of the financial services provider’s stock after acquiring an additional 240 shares during the period. JFS Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $870,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Accretive Wealth Partners LLC acquired a new stake in shares of Wells Fargo & Company during the first quarter valued at about $399,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of 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 valued at $54,471,000 after purchasing an additional 71,740 shares during the period. Secured Retirement Advisors LLC purchased a new position in shares of Wells Fargo & Company in the first quarter valued at approximately $408,000. RKL Wealth Management LLC boosted its stake in shares of 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 valued at $588,000 after purchasing an additional 5,113 shares during the period. Finally, Three Bridge Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $364,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have recently commented on the stock. Piper Sandler reissued an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Raymond James Financial lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Morgan Stanley lowered shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $87.00 to $90.00 in a research note on Monday, September 29th. Citigroup lifted their price target on shares of 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, Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus target price of $85.41.
Wells Fargo & Company Stock Down 2.7%
Shares of NYSE:WFC opened at $77.74 on Friday. The company has a market capitalization of $249.04 billion, a PE ratio of 13.31, a P/E/G ratio of 1.25 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 twelve month low of $58.42 and a twelve month high of $86.65. The firm has a 50 day simple moving average of $80.63 and a 200-day simple moving average of $76.53.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.13. The business 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%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.33 EPS. On average, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.
Wells Fargo & Company Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. The ex-dividend date was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s payout ratio is presently 30.82%.
Wells Fargo & Company 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.
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