Orion Porfolio Solutions LLC Raises Stock Position in Wells Fargo & Company $WFC

Orion Porfolio Solutions LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 43.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 216,618 shares of the financial services provider’s stock after purchasing an additional 65,356 shares during the period. Orion Porfolio Solutions LLC’s holdings in Wells Fargo & Company were worth $17,355,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in WFC. Access Investment Management LLC purchased a new stake in shares of Wells Fargo & Company in the second quarter worth about $25,000. CBIZ Investment Advisory Services LLC lifted its position in Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in Wells Fargo & Company in the 2nd quarter worth approximately $27,000. 1248 Management LLC acquired a new stake in Wells Fargo & Company in the first quarter valued at approximately $31,000. Finally, Kilter Group LLC acquired a new stake in Wells Fargo & Company in the second quarter valued at approximately $31,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group reduced their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.04.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $92.76 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $93.42. The firm’s 50-day simple moving average is $85.51 and its 200-day simple moving average is $81.74. The firm has a market cap of $291.18 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 0.96 and a beta of 1.11.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. During the same period in the previous year, the company earned $1.42 earnings per share. Wells Fargo & Company’s quarterly revenue was up 5.3% 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s payout ratio is 29.61%.

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.