Means Investment CO. Inc. Has $566,000 Position in Wells Fargo & Company $WFC

Means Investment CO. Inc. lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,067 shares of the financial services provider’s stock after purchasing an additional 183 shares during the quarter. Means Investment CO. Inc.’s holdings in Wells Fargo & Company were worth $566,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Accretive Wealth Partners LLC bought a new stake in Wells Fargo & Company in the 1st quarter valued at $399,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of 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 valued at $54,471,000 after purchasing an additional 71,740 shares in the last quarter. Secured Retirement Advisors LLC acquired a new position in shares of Wells Fargo & Company during the first quarter worth about $408,000. RKL Wealth Management LLC boosted its position in shares of Wells Fargo & Company by 166.4% during the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock worth $588,000 after buying an additional 5,113 shares during the period. Finally, Three Bridge Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the second quarter worth about $364,000. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. 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. UBS Group cut their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Citigroup raised their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Weiss Ratings raised shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday. Finally, Truist Financial increased their price objective on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $85.41.

Wells Fargo & Company Trading Down 2.7%

Shares of NYSE:WFC opened at $77.74 on Friday. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $86.65. The company has a market capitalization of $249.04 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 1.25 and a beta of 1.25. The company has a 50-day simple moving average of $80.63 and a 200 day simple moving average of $76.53. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84.

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, 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 firm had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the prior year, the company earned $1.33 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed 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 represents a $1.80 dividend on an annualized basis and a yield of 2.3%. 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. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

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.