Ameriflex Group Inc. Has $410,000 Stake in Wells Fargo & Company $WFC

Ameriflex Group Inc. decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 7.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,134 shares of the financial services provider’s stock after selling 422 shares during the quarter. Ameriflex Group Inc.’s holdings in Wells Fargo & Company were worth $410,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of WFC. Brighton Jones LLC grew its position in shares of Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after buying an additional 25,436 shares during the period. Annex Advisory Services LLC grew its position in Wells Fargo & Company by 20.1% in the 1st quarter. Annex Advisory Services LLC now owns 6,008 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 1,007 shares during the period. Vest Financial LLC grew its position in Wells Fargo & Company by 73.5% in the 1st quarter. Vest Financial LLC now owns 27,256 shares of the financial services provider’s stock valued at $1,957,000 after purchasing an additional 11,547 shares during the period. Foster Group Inc. grew its position in Wells Fargo & Company by 5.0% in the 1st quarter. Foster Group Inc. now owns 41,396 shares of the financial services provider’s stock valued at $2,972,000 after purchasing an additional 1,974 shares during the period. Finally, MRA Advisory Group grew its position in Wells Fargo & Company by 17.0% in the 1st quarter. MRA Advisory Group now owns 3,651 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 530 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $80.63 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The stock’s fifty day simple moving average is $80.77 and its two-hundred day simple moving average is $76.28. Wells Fargo & Company has a 1-year low of $55.98 and a 1-year high of $86.65. The stock has a market cap of $258.28 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $20.83 billion. During the same period last year, the business earned $1.33 EPS. The business’s revenue was up .6% on a year-over-year basis. As a group, analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a dividend of $0.45 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company’s dividend payout ratio (DPR) is 30.82%.

Analysts Set New Price Targets

Several research firms recently issued reports on WFC. Weiss Ratings reissued a “hold (c)” rating on shares of Wells Fargo & Company in a research report on Saturday, September 27th. Citigroup lifted their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Piper Sandler reissued an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Morgan Stanley downgraded shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $87.00 to $90.00 in a research report on Monday, September 29th. Finally, Truist Financial lifted their price target on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.74.

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.