Occidental Asset Management LLC Has $575,000 Stake in Wells Fargo & Company $WFC

Occidental Asset Management LLC decreased its stake in Wells Fargo & Company (NYSE:WFC) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,172 shares of the financial services provider’s stock after selling 125 shares during the quarter. Occidental Asset Management LLC’s holdings in Wells Fargo & Company were worth $575,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Accretive Wealth Partners LLC acquired a new stake in shares of Wells Fargo & Company during the first quarter worth about $399,000. Banco Bilbao Vizcaya Argentaria S.A. raised its position in Wells Fargo & Company by 10.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock valued at $54,471,000 after buying an additional 71,740 shares during the last quarter. Secured Retirement Advisors LLC bought a new position in Wells Fargo & Company in the first quarter valued at approximately $408,000. RKL Wealth Management LLC grew its stake in 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 valued at $588,000 after purchasing an additional 5,113 shares in the last quarter. Finally, Allianz SE grew its stake in Wells Fargo & Company by 22.6% in the first quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock valued at $15,244,000 after purchasing an additional 39,150 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $85.17 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $272.85 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.31 and a beta of 1.25. The stock has a 50 day moving average of $80.47 and a 200 day moving average of $75.50. Wells Fargo & Company has a 12 month low of $53.31 and a 12 month high of $85.28.

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 analysts’ consensus estimates 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 company had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same period last year, the business posted $1.33 earnings per share. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a $0.45 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 30.82%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WFC shares. Bank of America lifted their target price on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Truist Financial boosted their price target on Wells Fargo & Company from $83.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Evercore ISI restated an “outperform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Finally, Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.56.

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.