Wealthcare Advisory Partners LLC Purchases 912 Shares of Wells Fargo & Company $WFC

Wealthcare Advisory Partners LLC increased its position in Wells Fargo & Company (NYSE:WFC) by 7.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,816 shares of the financial services provider’s stock after buying an additional 912 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Wells Fargo & Company were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Wealth Management Partners LLC lifted its position in Wells Fargo & Company by 3.5% in the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after buying an additional 128 shares during the last quarter. Verum Partners LLC lifted its position in Wells Fargo & Company by 1.8% in the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after buying an additional 128 shares during the last quarter. Motive Wealth Advisors lifted its position in Wells Fargo & Company by 3.7% in the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after buying an additional 129 shares during the last quarter. Lynch & Associates IN lifted its position in Wells Fargo & Company by 2.0% in the 2nd quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider’s stock worth $539,000 after buying an additional 135 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its position in Wells Fargo & Company by 19.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 854 shares of the financial services provider’s stock worth $68,000 after buying an additional 138 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC opened at $81.09 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a 52-week low of $57.07 and a 52-week high of $86.65. The stock has a market capitalization of $259.75 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. The stock’s 50 day moving average price is $80.69 and its 200-day moving average price is $76.42.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. On average, equities 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 paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s payout ratio is presently 30.82%.

Analysts Set New Price Targets

A number of equities analysts have commented on WFC shares. Truist Financial lifted their price target on Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Citigroup lifted their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Morgan Stanley cut Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $87.00 to $90.00 in a research note on Monday, September 29th. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Finally, The Goldman Sachs Group decreased their price target on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $85.41.

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.