Hutchinson Financial Advisors INC Takes $251,000 Position in Wells Fargo & Company $WFC

Hutchinson Financial Advisors INC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,129 shares of the financial services provider’s stock, valued at approximately $251,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WFC. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Wells Fargo & Company by 2,735,254.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after buying an additional 949,735,001 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Wells Fargo & Company by 277.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock valued at $771,092,000 after buying an additional 7,894,919 shares during the last quarter. Strs Ohio bought a new stake in shares of Wells Fargo & Company during the first quarter valued at approximately $109,643,000. Canada Pension Plan Investment Board raised its position in shares of Wells Fargo & Company by 34.6% during the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock valued at $381,016,000 after buying an additional 1,365,629 shares during the last quarter. Finally, Phoenix Financial Ltd. raised its position in shares of Wells Fargo & Company by 437.6% during the second quarter. Phoenix Financial Ltd. now owns 1,312,103 shares of the financial services provider’s stock valued at $105,120,000 after buying an additional 1,068,040 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.4%

NYSE:WFC opened at $87.19 on Friday. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47. The company has a market cap of $279.30 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25. The stock has a fifty day simple moving average of $82.75 and a 200-day simple moving average of $78.49. 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 (NYSE:WFC) last released its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping 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 business had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same period last year, the company earned $1.42 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s payout ratio is presently 29.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WFC shares. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Weiss Ratings raised shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Citigroup raised their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Finally, Truist Financial raised their target price on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.57.

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.