Rexford Capital Inc. Buys Shares of 9,574 Wells Fargo & Company $WFC

Rexford Capital Inc. purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,574 shares of the financial services provider’s stock, valued at approximately $767,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in shares of Wells Fargo & Company by 62.3% during the 4th 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. Trivium Point Advisory LLC raised its stake in shares of Wells Fargo & Company by 16.3% during the 1st quarter. Trivium Point Advisory LLC now owns 4,158 shares of the financial services provider’s stock worth $298,000 after purchasing an additional 584 shares in the last quarter. Ethic Inc. boosted its holdings in shares of Wells Fargo & Company by 8.5% in the 1st quarter. Ethic Inc. now owns 58,629 shares of the financial services provider’s stock valued at $4,181,000 after buying an additional 4,581 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in Wells Fargo & Company by 220.2% during the first quarter. Nations Financial Group Inc. IA ADV now owns 13,317 shares of the financial services provider’s stock worth $956,000 after buying an additional 9,158 shares during the last quarter. Finally, Forvis Mazars Wealth Advisors LLC raised its position in Wells Fargo & Company by 1.2% during the first quarter. Forvis Mazars Wealth Advisors LLC now owns 12,978 shares of the financial services provider’s stock worth $932,000 after acquiring an additional 159 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WFC shares. TD Cowen boosted their price target on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Barclays lifted their price objective on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. 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 research note on Wednesday, October 15th. Finally, Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $90.04.

Wells Fargo & Company Trading Up 0.2%

Shares of WFC stock opened at $92.76 on Friday. The stock has a market cap of $291.18 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 0.96 and a beta of 1.11. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $93.42. 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 stock has a 50 day simple moving average of $85.51 and a 200 day simple moving average of $81.74.

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, beating the consensus estimate of $1.55 by $0.18. The firm had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $1.42 EPS. On average, research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were paid a $0.45 dividend. The ex-dividend date was Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 1.9%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.