Greenwood Gearhart Inc. Buys 8,649 Shares of Wells Fargo & Company $WFC

Greenwood Gearhart Inc. boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 240.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,239 shares of the financial services provider’s stock after buying an additional 8,649 shares during the period. Greenwood Gearhart Inc.’s holdings in Wells Fargo & Company were worth $981,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. CBIZ Investment Advisory Services LLC increased its stake 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 buying an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in Wells Fargo & Company in the 2nd quarter worth $27,000. Motco increased its stake 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 buying an additional 326 shares in the last quarter. Accent Capital Management LLC purchased a new stake in Wells Fargo & Company in the 1st quarter worth $29,000. Finally, 1248 Management LLC purchased a new stake in Wells Fargo & Company in the 1st quarter worth $31,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 2.7%

Shares of NYSE:WFC opened at $77.74 on Friday. 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 has a 12 month low of $58.42 and a 12 month high of $86.65. The company has a 50-day moving average price of $80.63 and a 200 day moving average price of $76.51. The company has a market cap of $249.04 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.29 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating 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 firm had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter last year, the firm earned $1.33 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.3%. Wells Fargo & Company’s payout ratio is 30.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WFC shares. Phillip Securities lowered Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Truist Financial raised their price objective on Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. The Goldman Sachs Group cut their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Finally, Morgan Stanley lowered Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $87.00 to $90.00 in a research report on Monday, September 29th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average target price of $85.41.

Wells Fargo & 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.