Wells Fargo & Company $WFC Stock Holdings Lifted by Vanguard Group Inc.

Vanguard Group Inc. grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 302,092,955 shares of the financial services provider’s stock after acquiring an additional 1,341,222 shares during the quarter. Vanguard Group Inc. owned about 0.09% of Wells Fargo & Company worth $24,203,688,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its position in Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after purchasing an additional 25,436 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of Wells Fargo & Company by 104.7% in the first quarter. J.W. Cole Advisors Inc. now owns 83,383 shares of the financial services provider’s stock valued at $5,986,000 after purchasing an additional 42,648 shares during the period. Sargent Investment Group LLC increased its stake in shares of Wells Fargo & Company by 14.9% in the first quarter. Sargent Investment Group LLC now owns 4,255 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 551 shares during the period. Wealth Alliance LLC raised its holdings in shares of Wells Fargo & Company by 1.8% during the first quarter. Wealth Alliance LLC now owns 10,883 shares of the financial services provider’s stock valued at $781,000 after buying an additional 195 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Wells Fargo & Company by 43.6% during the first quarter. Los Angeles Capital Management LLC now owns 289,883 shares of the financial services provider’s stock valued at $20,811,000 after buying an additional 88,077 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $83.49 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The business’s 50-day moving average price is $83.80 and its 200 day moving average price is $80.06. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $88.64. The firm has a market cap of $262.07 billion, a P/E ratio of 13.73, a PEG ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. 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 company earned $1.42 EPS. Wells Fargo & Company’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Analysts Set New Price Targets

Several analysts recently commented on WFC shares. Truist Financial raised their target price on Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Citigroup lifted their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. UBS Group decreased their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Finally, Evercore ISI upped their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.