Wells Fargo & Company $WFC Stock Holdings Lowered by Wealthspire Advisors LLC

Wealthspire Advisors LLC cut its position in Wells Fargo & Company (NYSE:WFC) by 48.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 74,492 shares of the financial services provider’s stock after selling 69,096 shares during the quarter. Wealthspire Advisors LLC’s holdings in Wells Fargo & Company were worth $5,968,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Access Investment Management LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $25,000. McElhenny Sheffield Capital Management LLC bought a new position in Wells Fargo & Company in the 2nd quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC increased its position in Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 322 shares during the period. Accent Capital Management LLC bought a new stake in Wells Fargo & Company during the 1st quarter valued at $29,000. Finally, Motco boosted its position in 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 during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WFC shares. 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 report on Wednesday, October 15th. Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. 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. Citigroup upped 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, Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $83.89 on Wednesday. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $88.64. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a 50-day moving average of $83.86 and a 200-day moving average of $80.14. The firm has a market cap of $263.35 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the previous year, the firm earned $1.42 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend 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 is currently 29.61%.

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.