Evermay Wealth Management LLC Has $726,000 Stake in Wells Fargo & Company $WFC

Evermay Wealth Management LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,065 shares of the financial services provider’s stock after buying an additional 400 shares during the period. Evermay Wealth Management LLC’s holdings in Wells Fargo & Company were worth $726,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of WFC. CBIZ Investment Advisory Services LLC grew its stake in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after buying an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in Wells Fargo & Company during the second quarter worth about $27,000. Motco grew its stake in Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after buying an additional 326 shares in the last quarter. Accent Capital Management LLC acquired a new stake in Wells Fargo & Company during the first quarter worth about $29,000. Finally, 1248 Management LLC acquired a new stake in Wells Fargo & Company during the first quarter worth about $31,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WFC has been the topic of a number of analyst reports. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday. Citigroup increased their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Keefe, Bruyette & Woods increased their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, October 15th. Finally, Barclays increased their target price on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Stock Down 0.9%

Shares of NYSE WFC opened at $83.25 on Monday. The company has a 50 day simple moving average of $81.21 and a 200 day simple moving average of $77.01. The firm has a market cap of $266.70 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.15 and a beta of 1.25. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $87.47. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a $0.45 dividend. 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 yield of 2.2%. Wells Fargo & Company’s dividend payout ratio (DPR) is 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.