Wells Fargo & Company (NYSE:WFC) Shares Purchased by DCM Advisors LLC

DCM Advisors LLC lifted its stake in Wells Fargo & Company (NYSE:WFC) by 6.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 79,963 shares of the financial services provider’s stock after acquiring an additional 5,027 shares during the quarter. Wells Fargo & Company accounts for 1.4% of DCM Advisors LLC’s investment portfolio, making the stock its 14th largest position. DCM Advisors LLC’s holdings in Wells Fargo & Company were worth $3,876,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Sentry Investment Management LLC increased its stake in Wells Fargo & Company by 121.3% during the 1st quarter. Sentry Investment Management LLC now owns 32,064 shares of the financial services provider’s stock worth $1,554,000 after buying an additional 17,575 shares during the period. Jackson Hole Capital Partners LLC increased its stake in Wells Fargo & Company by 14.4% during the 1st quarter. Jackson Hole Capital Partners LLC now owns 34,630 shares of the financial services provider’s stock worth $1,678,000 after buying an additional 4,349 shares during the period. Doliver Advisors LP increased its stake in Wells Fargo & Company by 64.5% during the 1st quarter. Doliver Advisors LP now owns 9,309 shares of the financial services provider’s stock worth $451,000 after buying an additional 3,650 shares during the period. Parsec Financial Management Inc. increased its stake in Wells Fargo & Company by 12.7% during the 1st quarter. Parsec Financial Management Inc. now owns 17,361 shares of the financial services provider’s stock worth $841,000 after buying an additional 1,952 shares during the period. Finally, GW&K Investment Management LLC increased its stake in Wells Fargo & Company by 1.0% during the 1st quarter. GW&K Investment Management LLC now owns 845,967 shares of the financial services provider’s stock worth $40,996,000 after buying an additional 8,135 shares during the period. 74.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent research reports. Piper Sandler set a $48.00 target price on shares of Wells Fargo & Company in a research note on Monday, June 20th. Raymond James dropped their price objective on shares of Wells Fargo & Company from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, June 24th. The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $54.00 to $56.00 in a research report on Thursday, April 14th. Royal Bank of Canada dropped their price objective on shares of Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, July 1st. Finally, Barclays dropped their price objective on shares of Wells Fargo & Company from $64.00 to $58.00 and set an “overweight” rating on the stock in a research report on Monday, July 18th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.31.

Wells Fargo & Company Stock Performance

NYSE:WFC traded up $0.13 during trading hours on Tuesday, reaching $43.32. 253,326 shares of the company’s stock were exchanged, compared to its average volume of 18,540,226. The firm has a market capitalization of $164.31 billion, a price-to-earnings ratio of 10.36, a P/E/G ratio of 1.07 and a beta of 1.18. The company has a 50-day moving average of $41.45 and a 200 day moving average of $46.75. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. Wells Fargo & Company has a 1-year low of $36.54 and a 1-year high of $60.30.

Wells Fargo & Company (NYSE:WFCGet Rating) last issued its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). The business had revenue of $17.03 billion for the quarter, compared to analyst estimates of $17.54 billion. Wells Fargo & Company had a return on equity of 10.67% and a net margin of 22.52%. The firm’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. Research analysts anticipate that Wells Fargo & Company will post 4 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 5th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.77%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.25. Wells Fargo & Company’s dividend payout ratio is currently 28.78%.

About Wells Fargo & Company

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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.

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

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