Foster Group Inc. Sells 192 Shares of Wells Fargo & Company $WFC

Foster Group Inc. trimmed its stake in Wells Fargo & Company (NYSE:WFC) by 0.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,204 shares of the financial services provider’s stock after selling 192 shares during the period. Foster Group Inc.’s holdings in Wells Fargo & Company were worth $3,301,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. CBIZ Investment Advisory Services LLC boosted its stake in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after buying an additional 322 shares during the period. Accent Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the 1st quarter worth about $29,000. Motco boosted its stake in shares of Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 326 shares during the period. Nova Wealth Management Inc. boosted its stake in shares of Wells Fargo & Company by 112.9% during the 2nd quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 227 shares during the period. Finally, 1248 Management LLC bought a new position in Wells Fargo & Company during the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.3%

Wells Fargo & Company stock opened at $84.61 on Monday. The business’s 50-day simple moving average is $80.44 and its two-hundred day simple moving average is $75.40. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market cap of $271.04 billion, a PE ratio of 14.49, a PEG ratio of 1.31 and a beta of 1.25. Wells Fargo & Company has a fifty-two week low of $53.31 and a fifty-two week high of $84.93.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 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 firm had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. Equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is 30.82%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Raymond James Financial cut Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Phillip Securities lowered Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Evercore ISI reiterated an “outperform” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Finally, Citigroup reissued a “neutral” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $82.56.

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.