Catalyst Capital Advisors LLC Boosts Holdings in Wells Fargo & Company $WFC

Catalyst Capital Advisors LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 50.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,173 shares of the financial services provider’s stock after acquiring an additional 1,067 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $254,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. R Squared Ltd purchased a new position in shares of Wells Fargo & Company during the second quarter worth approximately $395,000. Cardinal Point Capital Management ULC bought a new position in shares of Wells Fargo & Company in the second quarter worth approximately $375,000. Avion Wealth grew its holdings in shares of Wells Fargo & Company by 49.7% in the second quarter. Avion Wealth now owns 12,411 shares of the financial services provider’s stock worth $994,000 after purchasing an additional 4,123 shares during the last quarter. Silver Oak Advisory Group Inc. bought a new position in shares of Wells Fargo & Company in the second quarter worth approximately $590,000. Finally, FSM Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company in the second quarter worth approximately $259,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Bank of America raised their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Truist Financial raised their target price on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, Evercore ISI raised their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $86.35 on Friday. The stock has a market cap of $276.61 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 1.16 and a beta of 1.25. The firm’s fifty day simple moving average is $81.89 and its 200 day simple moving average is $77.61. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.11. The business had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.42 earnings per share. As a group, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

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 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 was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.61%.

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.