Cetera Advisors LLC Decreases Holdings in Wells Fargo & Company (NYSE:WFC)

Cetera Advisors LLC trimmed its position in shares of Wells Fargo & Company (NYSE:WFCGet Rating) by 7.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,047 shares of the financial services provider’s stock after selling 4,812 shares during the period. Cetera Advisors LLC’s holdings in Wells Fargo & Company were worth $2,470,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. IFM Investors Pty Ltd increased its stake in Wells Fargo & Company by 17.3% in the 1st quarter. IFM Investors Pty Ltd now owns 628,740 shares of the financial services provider’s stock worth $30,469,000 after purchasing an additional 92,802 shares during the period. Defender Capital LLC. purchased a new position in Wells Fargo & Company in the 1st quarter worth approximately $246,000. Sandy Spring Bank increased its stake in Wells Fargo & Company by 3.7% in the 1st quarter. Sandy Spring Bank now owns 7,003 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 249 shares during the period. Shell Asset Management Co. increased its stake in Wells Fargo & Company by 0.4% in the 1st quarter. Shell Asset Management Co. now owns 100,821 shares of the financial services provider’s stock worth $4,886,000 after purchasing an additional 437 shares during the period. Finally, Waldron Private Wealth LLC increased its stake in Wells Fargo & Company by 16.8% in the 1st quarter. Waldron Private Wealth LLC now owns 12,572 shares of the financial services provider’s stock worth $609,000 after purchasing an additional 1,810 shares during the period. 72.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Wells Fargo & Company from $46.50 to $49.50 in a research note on Wednesday, November 2nd. Piper Sandler boosted their target price on Wells Fargo & Company from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Monday, October 17th. BMO Capital Markets boosted their target price on Wells Fargo & Company from $61.00 to $63.00 and gave the company a “market perform” rating in a research note on Monday, October 17th. Deutsche Bank Aktiengesellschaft reduced their target price on Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, September 12th. Finally, Morgan Stanley reduced their target price on Wells Fargo & Company from $62.00 to $59.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 5th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.03.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $47.11 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.99. The business has a 50-day simple moving average of $44.16 and a two-hundred day simple moving average of $43.20. The stock has a market cap of $179.51 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.20 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $36.54 and a 52 week high of $60.30.

Wells Fargo & Company (NYSE:WFCGet Rating) last released its quarterly earnings data on Friday, October 14th. The financial services provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.24). Wells Fargo & Company had a return on equity of 10.95% and a net margin of 19.95%. The business had revenue of $19.51 billion during the quarter, compared to the consensus estimate of $18.78 billion. During the same period last year, the company earned $1.17 EPS. The business’s revenue was up 3.6% on a year-over-year basis. On average, analysts expect that Wells Fargo & Company will post 3.81 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 4th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, November 3rd. Wells Fargo & Company’s payout ratio is 31.17%.

Wells Fargo & Company Company Profile

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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