Kingswood Wealth Advisors LLC Has $1.15 Million Stock Holdings in Wells Fargo & Company $WFC

Kingswood Wealth Advisors LLC cut its holdings in Wells Fargo & Company (NYSE:WFC) by 11.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,368 shares of the financial services provider’s stock after selling 1,896 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $1,151,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Wells Fargo & Company by 2,735,254.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after buying an additional 949,735,001 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Wells Fargo & Company by 277.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after buying an additional 7,894,919 shares during the last quarter. Strs Ohio acquired a new stake in shares of Wells Fargo & Company in the first quarter worth $109,643,000. Canada Pension Plan Investment Board lifted its stake in shares of Wells Fargo & Company by 34.6% in the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock worth $381,016,000 after buying an additional 1,365,629 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Wells Fargo & Company by 30.5% in the first quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider’s stock worth $353,668,000 after buying an additional 1,152,181 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WFC shares. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday. Truist Financial boosted their price objective on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Finally, Dbs Bank upgraded shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.41.

Wells Fargo & Company Price Performance

NYSE WFC opened at $79.74 on Thursday. The business has a 50 day simple moving average of $80.65 and a 200 day simple moving average of $76.44. Wells Fargo & Company has a 52-week low of $57.07 and a 52-week high of $86.65. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market cap of $255.44 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.31 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $20.83 billion. During the same period in the prior year, the business earned $1.33 EPS. Wells Fargo & Company’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. This is an increase 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 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.