Quantum Private Wealth LLC Purchases Shares of 2,750 Wells Fargo & Company $WFC

Quantum Private Wealth LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,750 shares of the financial services provider’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after purchasing an additional 949,735,001 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Wells Fargo & Company by 0.4% during the second quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock worth $24,203,688,000 after buying an additional 1,341,222 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Wells Fargo & Company by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock worth $1,471,259,000 after buying an additional 128,207 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Wells Fargo & Company by 54.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock valued at $1,332,851,000 after acquiring an additional 5,894,747 shares during the period. Finally, Pzena Investment Management LLC grew its stake in shares of Wells Fargo & Company by 5.5% in the second quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock valued at $830,990,000 after acquiring an additional 542,493 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the subject of several analyst reports. TD Cowen lifted their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. UBS Group cut their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Finally, Truist Financial lifted their price objective on 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 issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Stock Up 0.9%

NYSE WFC opened at $83.14 on Friday. The business has a fifty day moving average price of $84.00 and a two-hundred day moving average price of $80.29. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $88.64. The stock has a market capitalization of $260.98 billion, a PE ratio of 13.67, a PEG ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) 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 company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same quarter last year, the company posted $1.42 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Wells Fargo & Company’s dividend 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.