2,820 Shares in Wells Fargo & Company $WFC Bought by Lion Street Advisors LLC

Lion Street Advisors LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,820 shares of the financial services provider’s stock, valued at approximately $226,000.

Several other institutional investors also recently modified their holdings of WFC. Brighton Jones LLC increased its position in Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after buying an additional 25,436 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Wells Fargo & Company by 296.5% in the first quarter. Harbor Capital Advisors Inc. now owns 686 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 513 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Wells Fargo & Company by 11.3% during the 1st quarter. GAMMA Investing LLC now owns 47,264 shares of the financial services provider’s stock worth $3,393,000 after purchasing an additional 4,786 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Wells Fargo & Company during the first quarter worth approximately $43,000. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Wells Fargo & Company during the 1st quarter worth $2,252,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group reduced their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Truist Financial lifted their price target on Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Piper Sandler reaffirmed an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Finally, Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.41.

Wells Fargo & Company Stock Up 1.7%

Shares of NYSE:WFC opened at $78.92 on Tuesday. The business’s 50 day simple moving average is $80.66 and its two-hundred day simple moving average is $76.61. The firm has a market cap of $252.80 billion, a P/E ratio of 13.51, a PEG ratio of 1.25 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $86.65.

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, topping the consensus estimate 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 business had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the prior year, the company earned $1.33 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 EPS 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 paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s payout ratio is 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.