Lbp Am Sa Has $2.77 Million Stock Position in Wells Fargo & Company $WFC

Lbp Am Sa trimmed its position in Wells Fargo & Company (NYSE:WFC) by 33.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,611 shares of the financial services provider’s stock after selling 17,534 shares during the quarter. Lbp Am Sa’s holdings in Wells Fargo & Company were worth $2,773,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WFC. Brighton Jones LLC increased its position in Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after purchasing an additional 25,436 shares during the period. Apella Capital LLC boosted its holdings in Wells Fargo & Company by 12.6% during the first quarter. Apella Capital LLC now owns 31,011 shares of the financial services provider’s stock worth $2,057,000 after buying an additional 3,474 shares during the last quarter. Secure Asset Management LLC boosted its holdings in Wells Fargo & Company by 21.7% during the first quarter. Secure Asset Management LLC now owns 6,166 shares of the financial services provider’s stock worth $443,000 after buying an additional 1,099 shares during the last quarter. HF Advisory Group LLC boosted its holdings in Wells Fargo & Company by 10.4% during the first quarter. HF Advisory Group LLC now owns 41,906 shares of the financial services provider’s stock worth $3,008,000 after buying an additional 3,960 shares during the last quarter. Finally, Fermata Advisors LLC boosted its holdings in Wells Fargo & Company by 308.4% during the first quarter. Fermata Advisors LLC now owns 12,751 shares of the financial services provider’s stock worth $915,000 after buying an additional 9,629 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of recent analyst reports. Truist Financial raised their target price on Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. The Goldman Sachs Group reduced their target price on 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, Morgan Stanley cut Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $87.00 to $90.00 in a report on Monday. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $83.74.

Wells Fargo & Company Trading Down 0.5%

NYSE:WFC opened at $80.47 on Friday. Wells Fargo & Company has a fifty-two week low of $54.40 and a fifty-two week high of $86.65. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $257.79 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.25 and a beta of 1.25. The business’s 50-day simple moving average is $80.84 and its 200-day simple moving average is $76.22.

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, beating the consensus estimate of $1.41 by $0.13. The firm had revenue of $20.82 billion for 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 business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.33 EPS. Sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company 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 represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date 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 (DPR) is presently 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.