Wells Fargo & Company $WFC Shares Bought by McAdam LLC

McAdam LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 36.1% in the 1st quarter, HoldingsChannel reports. The fund owned 8,467 shares of the financial services provider’s stock after acquiring an additional 2,244 shares during the period. McAdam LLC’s holdings in Wells Fargo & Company were worth $608,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Rock Wealth Management LLC grew its holdings in Wells Fargo & Company by 55.8% during the 1st quarter. Blue Rock Wealth Management LLC now owns 8,078 shares of the financial services provider’s stock worth $580,000 after acquiring an additional 2,894 shares in the last quarter. Intech Investment Management LLC grew its holdings in Wells Fargo & Company by 41.3% during the 1st quarter. Intech Investment Management LLC now owns 1,017,392 shares of the financial services provider’s stock worth $73,039,000 after acquiring an additional 297,422 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in Wells Fargo & Company during the 1st quarter worth approximately $119,000. Integrity Alliance LLC. acquired a new position in Wells Fargo & Company during the 1st quarter worth approximately $1,356,000. Finally, Ransom Advisory Ltd acquired a new position in Wells Fargo & Company during the 1st quarter worth approximately $1,492,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the subject of several analyst reports. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a 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 report on Monday, July 7th. Dbs Bank upgraded shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Bank of America upped their target price on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $82.56.

Wells Fargo & Company Stock Down 0.6%

Shares of NYSE:WFC opened at $80.29 on Thursday. The stock has a market cap of $257.20 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.26 and a beta of 1.25. The firm has a fifty day moving average price of $80.47 and a 200 day moving average price of $75.09. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a 1-year low of $50.22 and a 1-year high of $84.83.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.83 billion. During the same quarter in the prior year, the business earned $1.33 EPS. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

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