Wells Fargo & Company (NYSE:WFC) Position Increased by Cetera Investment Advisers

Cetera Investment Advisers raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,597 shares of the financial services provider’s stock after acquiring an additional 235 shares during the period. Cetera Investment Advisers’ holdings in Wells Fargo & Company were worth $7,192,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the 2nd quarter valued at $26,000. Destiny Wealth Partners LLC raised its stake in Wells Fargo & Company by 716.0% during the 2nd quarter. Destiny Wealth Partners LLC now owns 767 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 673 shares in the last quarter. Retirement Group LLC raised its stake in Wells Fargo & Company by 6,250.0% during the 1st quarter. Retirement Group LLC now owns 635 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 625 shares in the last quarter. Tortoise Investment Management LLC raised its stake in Wells Fargo & Company by 100.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 800 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 400 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC raised its stake in Wells Fargo & Company by 371.3% during the 2nd quarter. Moisand Fitzgerald Tamayo LLC now owns 919 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 724 shares in the last quarter. Institutional investors own 72.23% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $46.84 on Tuesday. Wells Fargo & Company has a 1-year low of $36.54 and a 1-year high of $60.30. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $178.48 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 1.20 and a beta of 1.16. The stock’s fifty day simple moving average is $44.08 and its 200-day simple moving average is $43.18.

Wells Fargo & Company (NYSE:WFCGet Rating) last issued its quarterly earnings results on Friday, October 14th. The financial services provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.24). Wells Fargo & Company had a net margin of 19.95% and a return on equity of 10.95%. The business had revenue of $19.51 billion for the quarter, compared to analysts’ expectations of $18.78 billion. During the same quarter in the prior year, the firm posted $1.17 EPS. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts predict that Wells Fargo & Company will post 3.81 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 4th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, November 3rd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.56%. Wells Fargo & Company’s dividend payout ratio is 31.17%.

Analyst Ratings Changes

WFC has been the topic of several research analyst reports. StockNews.com initiated coverage on Wells Fargo & Company in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. The Goldman Sachs Group upgraded Wells Fargo & Company from a “neutral” rating to a “buy” rating and lifted their price target for the company from $46.00 to $48.00 in a research report on Monday, October 3rd. JPMorgan Chase & Co. lifted their price target on Wells Fargo & Company from $46.50 to $49.50 in a research report on Wednesday, November 2nd. Piper Sandler lifted their price target on Wells Fargo & Company from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Monday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, September 12th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.03.

Wells Fargo & Company Profile

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

See Also

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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