Wells Fargo & Company $WFC Shares Purchased by Spartan Planning & Wealth Management

Spartan Planning & Wealth Management lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,960 shares of the financial services provider’s stock after acquiring an additional 330 shares during the quarter. Spartan Planning & Wealth Management’s holdings in Wells Fargo & Company were worth $558,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WFC. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Wells Fargo & Company by 2,735,254.3% during 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 in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Wells Fargo & Company by 0.6% during 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Wells Fargo & Company by 277.4% during 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 in the last quarter. Boston Partners boosted its holdings in Wells Fargo & Company by 6.2% during 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 in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Wells Fargo & Company by 10.0% during 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 in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WFC shares. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Bank of America increased their price target on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. The Goldman Sachs Group lowered their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average price target of $83.15.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $84.64 on Tuesday. Wells Fargo & Company has a 12-month low of $54.40 and a 12-month high of $86.65. The stock has a market cap of $271.14 billion, a P/E ratio of 14.49, a PEG ratio of 1.31 and a beta of 1.25. The company has a 50-day moving average price of $80.93 and a 200 day moving average price of $76.06. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the business earned $1.33 earnings per share. Wells Fargo & Company’s revenue was up .6% compared to the same quarter last year. Sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a dividend of $0.45 per share. 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 was Friday, August 8th. 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.