Cyndeo Wealth Partners LLC Acquires 322 Shares of Wells Fargo & Company $WFC

Cyndeo Wealth Partners LLC raised its holdings in Wells Fargo & Company (NYSE:WFC) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,089 shares of the financial services provider’s stock after purchasing an additional 322 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $1,129,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Vivid Wealth Management LLC boosted its position in Wells Fargo & Company by 0.8% in the 2nd quarter. Vivid Wealth Management LLC now owns 17,243 shares of the financial services provider’s stock valued at $1,381,000 after buying an additional 133 shares during the last quarter. 3Chopt Investment Partners LLC boosted its position in Wells Fargo & Company by 3.6% in the 2nd quarter. 3Chopt Investment Partners LLC now owns 53,147 shares of the financial services provider’s stock valued at $4,258,000 after buying an additional 1,857 shares during the last quarter. McKinley Carter Wealth Services Inc. boosted its position in Wells Fargo & Company by 359.7% in the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 21,473 shares of the financial services provider’s stock valued at $1,720,000 after buying an additional 16,802 shares during the last quarter. M. Kraus & Co bought a new position in Wells Fargo & Company in the 2nd quarter valued at $203,000. Finally, Callan Family Office LLC boosted its position in Wells Fargo & Company by 207.5% in the 2nd quarter. Callan Family Office LLC now owns 230,618 shares of the financial services provider’s stock valued at $18,477,000 after buying an additional 155,626 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent research reports. Citigroup increased their price objective on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Raymond James Financial lowered Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Weiss Ratings upgraded Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, Morgan Stanley lowered Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $87.00 to $90.00 in a research report on Monday, September 29th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus target price of $85.41.

Wells Fargo & Company Stock Down 2.7%

NYSE:WFC opened at $77.74 on Friday. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month 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 firm has a market capitalization of $249.04 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.29 and a beta of 1.25. The stock’s fifty day simple moving average is $80.63 and its 200-day simple moving average is $76.51.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.41 by $0.13. The business had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. Equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

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

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.