Telos Capital Management Inc. Has $1.13 Million Position in Wells Fargo & Company $WFC

Telos Capital Management Inc. raised its holdings in Wells Fargo & Company (NYSE:WFC) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,105 shares of the financial services provider’s stock after acquiring an additional 789 shares during the quarter. Telos Capital Management Inc.’s holdings in Wells Fargo & Company were worth $1,130,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WFC. Brighton Jones LLC boosted its stake in Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after acquiring an additional 25,436 shares during the last quarter. Silver Oak Securities Incorporated acquired a new stake in Wells Fargo & Company in the 1st quarter valued at $215,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Wells Fargo & Company in the 1st quarter valued at $244,000. Brookstone Capital Management increased its stake in Wells Fargo & Company by 129.9% in the 1st quarter. Brookstone Capital Management now owns 40,630 shares of the financial services provider’s stock valued at $2,917,000 after buying an additional 22,954 shares during the last quarter. Finally, Strategic Blueprint LLC increased its stake in shares of Wells Fargo & Company by 3.0% during the 1st quarter. Strategic Blueprint LLC now owns 5,628 shares of the financial services provider’s stock worth $404,000 after purchasing an additional 162 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 1.4%

NYSE:WFC opened at $87.19 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $279.30 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.18 and a beta of 1.25. The firm has a fifty day simple moving average of $82.75 and a two-hundred day simple moving average of $78.69. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $87.47.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. The business had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the company posted $1.42 earnings per share. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.61%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WFC shares. Barclays boosted their price objective on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Evercore ISI boosted their price objective 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 raised their price objective on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Truist Financial upped their price target on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, Phillip Securities lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company 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.