St. Louis Financial Planners Asset Management LLC Buys 8,336 Shares of Wells Fargo & Company $WFC

St. Louis Financial Planners Asset Management LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 26.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,955 shares of the financial services provider’s stock after purchasing an additional 8,336 shares during the quarter. Wells Fargo & Company makes up about 1.8% of St. Louis Financial Planners Asset Management LLC’s portfolio, making the stock its 26th biggest holding. St. Louis Financial Planners Asset Management LLC’s holdings in Wells Fargo & Company were worth $3,417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Godfrey Financial Associates Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at $25,000. Miller Capital Partners Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $25,000. Navalign LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $26,000. Joseph Group Capital Management bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $28,000. Finally, Phillip James Consulting Co. acquired a new stake in Wells Fargo & Company in the 1st quarter valued at about $28,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.8%

Shares of Wells Fargo & Company stock opened at $87.57 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a 50-day moving average of $84.70 and a 200-day moving average of $83.03. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The stock has a market cap of $264.81 billion, a PE ratio of 12.73, a PEG ratio of 0.97 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The business had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. During the same quarter in the previous year, the company earned $1.60 EPS. The business’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be paid a dividend of $0.50 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. Wells Fargo & Company’s dividend payout ratio is 26.16%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. KGI Securities lowered Wells Fargo & Company to a “hold” rating in a research note on Thursday, April 16th. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. Piper Sandler reaffirmed an “overweight” rating and set a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $98.61.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.