16,473 Shares in Wells Fargo & Company $WFC Bought by Revisor Wealth Management LLC

Revisor Wealth Management LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 16,473 shares of the financial services provider’s stock, valued at approximately $1,357,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC grew its position in Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the last quarter. Accent Capital Management LLC acquired a new stake in Wells Fargo & Company in the 1st quarter worth $29,000. Motco grew its position in Wells Fargo & Company by 397.6% in 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 last quarter. Nova Wealth Management Inc. grew its position in Wells Fargo & Company by 112.9% in 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 last quarter. Finally, 1248 Management LLC acquired a new stake in Wells Fargo & Company in the 1st quarter worth $31,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup restated a “neutral” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, Bank of America lifted their target price on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.56.

Wells Fargo & Company Trading Up 0.6%

Shares of NYSE WFC opened at $85.17 on Tuesday. Wells Fargo & Company has a 1-year low of $53.31 and a 1-year high of $85.28. The company has a market cap of $272.85 billion, a PE ratio of 14.58, a P/E/G ratio of 1.31 and a beta of 1.25. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The company has a 50-day moving average of $80.47 and a two-hundred day moving average of $75.50.

Wells Fargo & Company (NYSE:WFC) last announced its 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 company had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The company’s revenue was up .6% on a year-over-year basis. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s payout ratio is presently 30.82%.

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.