Wells Fargo & Company $WFC Position Raised by FLC Capital Advisors

FLC Capital Advisors raised its stake in Wells Fargo & Company (NYSE:WFC) by 98.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,890 shares of the financial services provider’s stock after buying an additional 2,925 shares during the quarter. FLC Capital Advisors’ holdings in Wells Fargo & Company were worth $472,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Wells Fargo & Company during the second quarter valued at about $27,000. CBIZ Investment Advisory Services LLC raised its stake in shares of 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 valued at $27,000 after purchasing an additional 322 shares in the last quarter. Accent Capital Management LLC bought a new stake in shares of Wells Fargo & Company during the first quarter valued at about $29,000. Motco raised its stake in shares of Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares in the last quarter. Finally, Nova Wealth Management Inc. raised its stake in shares of Wells Fargo & Company by 112.9% during the second quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 227 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WFC shares. Truist Financial lifted their price objective on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Bank of America boosted their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Trading Down 0.9%

Shares of WFC opened at $83.25 on Monday. The business’s 50-day moving average price is $81.21 and its 200 day moving average price is $77.01. The stock has a market capitalization of $266.70 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.15 and a beta of 1.25. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $87.47. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a $0.45 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

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.