Atwood & Palmer Inc. Increases Stock Holdings in Wells Fargo & Company $WFC

Atwood & Palmer Inc. increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 7.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,156 shares of the financial services provider’s stock after buying an additional 231 shares during the period. Atwood & Palmer Inc.’s holdings in Wells Fargo & Company were worth $253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Webster Bank N. A. lifted its holdings in Wells Fargo & Company by 1.7% in the 2nd quarter. Webster Bank N. A. now owns 10,499 shares of the financial services provider’s stock valued at $841,000 after purchasing an additional 180 shares in the last quarter. MRA Advisory Group lifted its holdings in Wells Fargo & Company by 95.7% in the 2nd quarter. MRA Advisory Group now owns 7,144 shares of the financial services provider’s stock valued at $572,000 after purchasing an additional 3,493 shares in the last quarter. Canandaigua National Bank & Trust Co. lifted its holdings in Wells Fargo & Company by 123.8% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 18,179 shares of the financial services provider’s stock valued at $1,457,000 after purchasing an additional 10,056 shares in the last quarter. Apella Capital LLC lifted its holdings in Wells Fargo & Company by 8.8% in the 2nd quarter. Apella Capital LLC now owns 33,736 shares of the financial services provider’s stock valued at $2,778,000 after purchasing an additional 2,725 shares in the last quarter. Finally, Heartwood Wealth Advisors LLC purchased a new position in Wells Fargo & Company in the 2nd quarter valued at $260,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.3%

Shares of WFC opened at $81.46 on Monday. Wells Fargo & Company has a 52-week low of $51.75 and a 52-week high of $84.83. The company has a market capitalization of $260.95 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25. The stock has a fifty day simple moving average of $80.38 and a two-hundred day simple moving average of $75.14. 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 issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $20.83 billion. During the same period last year, the company earned $1.33 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio is 30.82%.

Analysts Set New Price Targets

WFC has been the topic of a number of research reports. Raymond James Financial lowered Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Bank of America raised their price objective on Wells Fargo & Company from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Truist Financial raised their price objective on Wells Fargo & Company from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Finally, Phillip Securities lowered Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Ten investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.56.

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.