Wells Fargo & Company $WFC Stock Holdings Lifted by Lazari Capital Management Inc.

Lazari Capital Management Inc. raised its position in Wells Fargo & Company (NYSE:WFC) by 2.7% during the second quarter, HoldingsChannel.com reports. The firm owned 18,740 shares of the financial services provider’s stock after buying an additional 494 shares during the quarter. Lazari Capital Management Inc.’s holdings in Wells Fargo & Company were worth $1,501,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WFC. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Wells Fargo & Company by 2,735,254.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after buying an additional 949,735,001 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Wells Fargo & Company by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock worth $1,471,259,000 after buying an additional 128,207 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Wells Fargo & Company by 277.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after buying an additional 7,894,919 shares during the last quarter. Boston Partners lifted its position in shares of Wells Fargo & Company by 6.2% in the first quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock worth $640,616,000 after buying an additional 523,107 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Wells Fargo & Company by 10.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,009,440 shares of the financial services provider’s stock worth $431,418,000 after buying an additional 544,473 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.8%

Wells Fargo & Company stock opened at $85.01 on Monday. The business has a 50 day moving average price of $80.84 and a two-hundred day moving average price of $75.97. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The stock has a market cap of $272.32 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25. Wells Fargo & Company has a 12 month low of $54.40 and a 12 month high of $86.65.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.41 by $0.13. The firm had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 EPS. 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 company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were issued a $0.45 dividend. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s payout ratio is currently 30.82%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on WFC shares. Raymond James Financial cut Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Wall Street Zen cut Wells Fargo & Company from a “hold” rating to a “sell” rating in a research report on Friday. Truist Financial boosted their price target on Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Finally, Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Ten 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 currently has an average rating of “Moderate Buy” and a consensus target price of $82.97.

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.