Wells Fargo & Company $WFC Shares Acquired by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,862 shares of the financial services provider’s stock after acquiring an additional 1,812 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Wells Fargo & Company were worth $3,651,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WFC. Accretive Wealth Partners LLC acquired a new stake in shares of Wells Fargo & Company during the first quarter worth $399,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of Wells Fargo & Company by 10.4% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock worth $54,471,000 after purchasing an additional 71,740 shares during the period. Secured Retirement Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the first quarter worth $408,000. RKL Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 166.4% during the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock worth $588,000 after purchasing an additional 5,113 shares during the period. Finally, Allianz SE lifted its holdings in shares of Wells Fargo & Company by 22.6% during the first quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock worth $15,244,000 after purchasing an additional 39,150 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on WFC. The Goldman Sachs Group decreased their price target on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Dbs Bank raised Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Citigroup reissued a “neutral” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, Piper Sandler reissued an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $81.58.

Wells Fargo & Company Trading Up 0.2%

Shares of WFC stock opened at $82.15 on Tuesday. Wells Fargo & Company has a fifty-two week low of $50.22 and a fifty-two week high of $84.83. The stock has a market cap of $263.17 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.28 and a beta of 1.25. The business has a fifty day simple moving average of $80.41 and a 200-day simple moving average of $74.98. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating 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 quarter last year, the business posted $1.33 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a $0.45 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, August 8th. 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.