Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 799 Shares of Wells Fargo & Company $WFC

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Wells Fargo & Company (NYSE:WFC) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,610 shares of the financial services provider’s stock after buying an additional 799 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Wells Fargo & Company were worth $2,372,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WFC. CBIZ Investment Advisory Services LLC grew its position in shares of Wells Fargo & Company by 585.5% in the 1st 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 during the last quarter. Motco grew its position 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 last quarter. Accent Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the 1st quarter worth approximately $29,000. 1248 Management LLC bought a new stake in shares of Wells Fargo & Company in the 1st quarter worth approximately $31,000. Finally, Stone House Investment Management LLC bought a new stake in shares of Wells Fargo & Company in the 1st quarter worth approximately $34,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 0.2%

WFC stock opened at $80.63 on Friday. Wells Fargo & Company has a 1-year low of $55.98 and a 1-year high of $86.65. The business has a fifty day moving average price of $80.77 and a 200-day moving average price of $76.28. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $258.28 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.24 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $20.83 billion. During the same quarter in the previous year, the business earned $1.33 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share 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. Stockholders of record on Friday, August 8th were paid a $0.45 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WFC shares. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Raymond James Financial cut Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Wells Fargo & Company in a research note on Saturday, September 27th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.74.

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.