Wealth Watch Advisors INC Acquires Shares of 1,829 Wells Fargo & Company $WFC

Wealth Watch Advisors INC bought a new position in Wells Fargo & Company (NYSE:WFC) during the second quarter, Holdings Channel.com reports. The fund bought 1,829 shares of the financial services provider’s stock, valued at approximately $147,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC grew its stake in Wells Fargo & Company by 585.5% in the first 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 in the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in Wells Fargo & Company during the 2nd quarter valued at $27,000. Motco lifted its holdings in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after buying an additional 326 shares during the period. Accent Capital Management LLC purchased a new stake in shares of Wells Fargo & Company in the 1st quarter worth $29,000. Finally, 1248 Management LLC bought a new position in shares of Wells Fargo & Company during the 1st quarter worth $31,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on WFC. Bank of America lifted their price objective on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Truist Financial upped their price target on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a report on Friday. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Finally, Citigroup increased their target price 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. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Price Performance

NYSE WFC opened at $86.35 on Monday. The firm’s fifty day simple moving average is $81.89 and its two-hundred day simple moving average is $77.80. The firm has a market capitalization of $276.61 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.19 and a beta of 1.25. 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.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. During the same quarter in the prior year, the business posted $1.42 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders 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. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is 29.61%.

Wells Fargo & 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.