RWA Wealth Partners LLC Boosts Holdings in Wells Fargo & Company $WFC

RWA Wealth Partners LLC increased its holdings in Wells Fargo & Company (NYSE:WFC) by 37.0% in the second quarter, Holdings Channel.com reports. The firm owned 25,431 shares of the financial services provider’s stock after acquiring an additional 6,869 shares during the period. RWA Wealth Partners LLC’s holdings in Wells Fargo & Company were worth $2,038,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new stake in Wells Fargo & Company in the second quarter worth $1,134,000. Marco Investment Management LLC increased its holdings in shares of Wells Fargo & Company by 18.0% in the second quarter. Marco Investment Management LLC now owns 35,334 shares of the financial services provider’s stock worth $2,831,000 after buying an additional 5,383 shares during the period. Harvest Portfolios Group Inc. lifted its stake in shares of Wells Fargo & Company by 3.2% in the 2nd quarter. Harvest Portfolios Group Inc. now owns 342,655 shares of the financial services provider’s stock valued at $27,454,000 after acquiring an additional 10,722 shares during the last quarter. Nvwm LLC boosted its holdings in Wells Fargo & Company by 21.7% during the 2nd quarter. Nvwm LLC now owns 48,495 shares of the financial services provider’s stock valued at $3,885,000 after acquiring an additional 8,663 shares during the period. Finally, Walkner Condon Financial Advisors LLC boosted its holdings in Wells Fargo & Company by 5.6% during the 2nd quarter. Walkner Condon Financial Advisors LLC now owns 3,988 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 210 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on WFC shares. The Goldman Sachs Group decreased their price target on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Truist Financial upped their price target on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Barclays raised their price target on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Morgan Stanley increased their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Trading Up 0.0%

NYSE:WFC opened at $86.05 on Friday. The company has a 50-day moving average price of $83.25 and a 200-day moving average price of $79.36. The stock has a market cap of $270.11 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 1.18 and a beta of 1.22. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $88.50.

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

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

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.