IVC Wealth Advisors LLC Sells 1,559 Shares of Wells Fargo & Company $WFC

IVC Wealth Advisors LLC lessened its stake in Wells Fargo & Company (NYSE:WFC) by 12.2% in the second quarter, HoldingsChannel reports. The firm owned 11,193 shares of the financial services provider’s stock after selling 1,559 shares during the period. IVC Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $897,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WFC. Accretive Wealth Partners LLC bought a new stake in shares of Wells Fargo & Company in the first quarter worth about $399,000. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Wells Fargo & Company by 10.4% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock worth $54,471,000 after acquiring an additional 71,740 shares in the last quarter. Secured Retirement Advisors LLC bought a new stake in shares of Wells Fargo & Company in the first quarter worth about $408,000. RKL Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 166.4% in the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock worth $588,000 after acquiring an additional 5,113 shares in the last quarter. Finally, Allianz SE increased its holdings in shares of Wells Fargo & Company by 22.6% in the first quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock worth $15,244,000 after acquiring an additional 39,150 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Dbs Bank upgraded Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Finally, Truist Financial increased their price objective on Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $83.74.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $80.63 on Friday. The stock has a 50 day moving average price of $80.77 and a 200 day moving average price of $76.31. Wells Fargo & Company has a 52 week low of $55.98 and a 52 week high of $86.65. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market capitalization of $258.28 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating 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 period in the prior year, the firm posted $1.33 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Wells Fargo & Company’s payout ratio is 30.82%.

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.