8,109 Shares in Wells Fargo & Company $WFC Purchased by CFO4Life Group LLC

CFO4Life Group LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, Holdings Channel reports. The fund purchased 8,109 shares of the financial services provider’s stock, valued at approximately $670,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC increased its holdings in Wells Fargo & Company by 62.3% during the fourth 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 last quarter. Jump Financial LLC raised its position in Wells Fargo & Company by 12.9% during the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock worth $1,835,000 after acquiring an additional 2,615 shares in the last quarter. Main Street Financial Solutions LLC lifted its stake in Wells Fargo & Company by 111.0% in the second quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock valued at $1,122,000 after acquiring an additional 7,368 shares during the last quarter. Vivaldi Capital Management LP lifted its stake in Wells Fargo & Company by 5.4% in the second quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 165 shares during the last quarter. Finally, Diversify Advisory Services LLC grew its position in shares of Wells Fargo & Company by 51.2% in the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock valued at $2,044,000 after acquiring an additional 8,714 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on WFC shares. Phillip Securities upgraded shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Truist Financial lifted their price target on Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Bank of America boosted their price target on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $84.82 on Wednesday. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The company has a market cap of $256.51 billion, a P/E ratio of 12.33, a P/E/G ratio of 0.92 and a beta of 0.92. The firm’s fifty day moving average price is $86.11 and its two-hundred day moving average price is $82.79. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. The company had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. Wells Fargo & Company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.60 EPS. Equities analysts expect that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.50 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, August 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.07%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.