Planned Solutions Inc. Lowers Stock Holdings in Wells Fargo & Company $WFC

Planned Solutions Inc. trimmed its stake in Wells Fargo & Company (NYSE:WFC) by 4.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,290 shares of the financial services provider’s stock after selling 150 shares during the period. Planned Solutions Inc.’s holdings in Wells Fargo & Company were worth $264,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. McElhenny Sheffield Capital Management LLC bought a new position in shares of Wells Fargo & Company in the second quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC increased its position in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the last quarter. Accent Capital Management LLC bought a new position in shares of Wells Fargo & Company in the first quarter worth approximately $29,000. Motco grew its position in Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 326 shares during the last quarter. Finally, Nova Wealth Management Inc. grew its position in Wells Fargo & Company by 112.9% during the second quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 227 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on WFC shares. TD Cowen increased their price target on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Wednesday. Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Raymond James Financial cut shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Finally, Bank of America increased their price objective on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $83.25 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $266.70 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.15 and a beta of 1.25. The business has a fifty day simple moving average of $81.21 and a two-hundred day simple moving average of $76.93. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $87.47.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, August 8th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company’s dividend payout ratio is 29.61%.

About Wells Fargo & Company

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.