9,062 Shares in Wells Fargo & Company $WFC Acquired by True Freedom Investing LLC

True Freedom Investing LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,062 shares of the financial services provider’s stock, valued at approximately $725,000.

Other institutional investors have also made changes to their positions in the company. Security Financial Services INC. lifted its stake in shares of Wells Fargo & Company by 5.8% in the third quarter. Security Financial Services INC. now owns 2,745 shares of the financial services provider’s stock valued at $220,000 after buying an additional 151 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in Wells Fargo & Company by 20.9% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,045,890 shares of the financial services provider’s stock valued at $324,228,000 after acquiring an additional 700,224 shares during the period. Pinkerton Wealth LLC acquired a new position in Wells Fargo & Company in the 3rd quarter valued at approximately $718,000. Virtue Capital Management LLC raised its holdings in Wells Fargo & Company by 8.8% in the 3rd quarter. Virtue Capital Management LLC now owns 7,462 shares of the financial services provider’s stock valued at $597,000 after acquiring an additional 602 shares in the last quarter. Finally, Verus Financial Partners Inc. lifted its position in shares of Wells Fargo & Company by 8.8% in the 3rd quarter. Verus Financial Partners Inc. now owns 3,680 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 299 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

NYSE WFC opened at $83.39 on Monday. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.89 and a current ratio of 0.89. The business has a 50 day simple moving average of $84.33 and a 200 day simple moving average of $83.70. The stock has a market cap of $250.32 billion, a price-to-earnings ratio of 11.76, a PEG ratio of 0.89 and a beta of 0.93.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, October 13th. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. Wells Fargo & Company had a net margin of 17.64% and a return on equity of 14.05%. The company had revenue of $21.87 billion for the quarter, compared to analysts’ expectations of $22.30 billion. During the same period in the prior year, the firm earned $1.66 EPS. Wells Fargo & Company’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 7.27 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.21%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Wells Fargo & Company from $91.50 to $92.00 and gave the stock a “neutral” rating in a research note on Friday. Truist Financial lifted their target price on shares of Wells Fargo & Company from $94.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, October 1st. UBS Group lowered their target price on shares of Wells Fargo & Company from $104.00 to $102.00 and set a “buy” rating on the stock in a research note on Monday, October 5th. Raymond James Financial restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada decreased their price objective on Wells Fargo & Company from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.11.

About Wells Fargo & Company

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.