Wells Fargo & Company $WFC Shares Bought by Savvy Advisors Inc.

Savvy Advisors Inc. grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 34.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,149 shares of the financial services provider’s stock after purchasing an additional 4,356 shares during the period. Savvy Advisors Inc.’s holdings in Wells Fargo & Company were worth $1,374,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. CBIZ Investment Advisory Services LLC increased its position in Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Wells Fargo & Company during the 2nd quarter worth approximately $27,000. Motco boosted its stake in shares of Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 326 shares in the last quarter. Accent Capital Management LLC purchased a new stake in shares of Wells Fargo & Company during the 1st quarter worth approximately $29,000. Finally, 1248 Management LLC purchased a new stake in shares of Wells Fargo & Company during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WFC. Raymond James Financial lowered Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Citigroup raised their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. TD Cowen raised their price target on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Finally, Truist Financial raised their price target on Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Eleven investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Stock Down 0.1%

Shares of NYSE:WFC opened at $85.92 on Friday. The stock’s 50-day moving average price is $82.59 and its two-hundred day moving average price is $78.32. 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 has a 12-month low of $58.42 and a 12-month high of $87.47. The firm has a market cap of $275.23 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.18 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.11. The business had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $1.42 EPS. On average, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 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.