REAP Financial Group LLC Acquires 464 Shares of Wells Fargo & Company $WFC

REAP Financial Group LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 52.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,346 shares of the financial services provider’s stock after purchasing an additional 464 shares during the quarter. REAP Financial Group LLC’s holdings in Wells Fargo & Company were worth $108,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Accretive Wealth Partners LLC bought a new position in Wells Fargo & Company in the first quarter worth $399,000. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in Wells Fargo & Company by 10.4% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock worth $54,471,000 after purchasing an additional 71,740 shares in the last quarter. Secured Retirement Advisors LLC bought a new position in Wells Fargo & Company in the first quarter worth $408,000. RKL Wealth Management LLC raised its holdings in Wells Fargo & Company by 166.4% in the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock worth $588,000 after purchasing an additional 5,113 shares in the last quarter. Finally, Three Bridge Wealth Advisors LLC bought a new position in Wells Fargo & Company in the second quarter worth $364,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.5%

Wells Fargo & Company stock opened at $81.09 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a one year low of $57.07 and a one year high of $86.65. The stock has a market capitalization of $259.75 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. The business’s fifty day moving average is $80.69 and its 200 day moving average is $76.42.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data 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. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same period last year, the firm posted $1.33 earnings per share. Wells Fargo & Company’s revenue was up .6% compared to the same quarter last year. On average, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. 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 payout ratio is 30.82%.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Wells Fargo & Company in a research note on Saturday, September 27th. Raymond James Financial cut Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Piper Sandler reissued an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Finally, Citigroup increased their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price of $85.41.

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.