Vanguard Personalized Indexing Management LLC Increases Stock Position in Wells Fargo & Company $WFC

Vanguard Personalized Indexing Management LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 18.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 386,414 shares of the financial services provider’s stock after acquiring an additional 61,496 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Wells Fargo & Company were worth $30,965,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. McElhenny Sheffield Capital Management LLC purchased a new stake in Wells Fargo & Company in the second quarter valued at $27,000. CBIZ Investment Advisory Services LLC lifted its position in Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 322 shares during the last quarter. Accent Capital Management LLC purchased a new stake in Wells Fargo & Company in the first quarter valued at $29,000. Motco lifted its position in Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 326 shares during the last quarter. Finally, Nova Wealth Management Inc. lifted its position in Wells Fargo & Company by 112.9% in the second quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 227 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 2.7%

Shares of Wells Fargo & Company stock opened at $77.74 on Friday. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $86.65. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The company’s 50-day simple moving average is $80.63 and its 200-day simple moving average is $76.53. The firm has a market cap of $249.04 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.25 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same period in the previous year, the business posted $1.33 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. UBS Group reduced their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Evercore ISI upped their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Morgan Stanley cut shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $87.00 to $90.00 in a report on Monday, September 29th. Truist Financial upped their target price on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Citigroup upped their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.41.

Wells Fargo & 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.