REAP Financial Group LLC Purchases 464 Shares of Wells Fargo & Company $WFC

REAP Financial Group LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 52.6% during the second quarter, Holdings Channel reports. The fund owned 1,346 shares of the financial services provider’s stock after acquiring an additional 464 shares during the period. REAP Financial Group LLC’s holdings in Wells Fargo & Company were worth $108,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of WFC. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Wells Fargo & Company by 2,735,254.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after buying an additional 949,735,001 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Wells Fargo & Company by 277.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after buying an additional 7,894,919 shares during the period. Strs Ohio bought a new position in shares of Wells Fargo & Company in the first quarter worth about $109,643,000. Canada Pension Plan Investment Board raised its stake in shares of Wells Fargo & Company by 34.6% in the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock worth $381,016,000 after buying an additional 1,365,629 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Wells Fargo & Company by 30.5% in the first quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider’s stock worth $353,668,000 after buying an additional 1,152,181 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on WFC. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley downgraded Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $87.00 to $90.00 in a research note on Monday, September 29th. Truist Financial raised their price objective on Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Citigroup lifted their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Finally, Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and an average target price of $85.41.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $81.09 on Wednesday. Wells Fargo & Company has a 52-week low of $57.07 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 firm has a market capitalization of $259.75 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.24 and a beta of 1.25. The stock has a 50 day moving average price of $80.69 and a 200 day moving average price of $76.42.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping 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 business 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 business earned $1.33 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 8th. 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 2.2%. Wells Fargo & Company’s dividend payout ratio is 30.82%.

About Wells Fargo & Company

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.