Citizens Business Bank Has $319,000 Stake in Wells Fargo & Company $WFC

Citizens Business Bank grew its holdings in Wells Fargo & Company (NYSE:WFC) by 19.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,989 shares of the financial services provider’s stock after purchasing an additional 645 shares during the period. Citizens Business Bank’s holdings in Wells Fargo & Company were worth $319,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Accretive Wealth Partners LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $399,000. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Wells Fargo & Company by 10.4% during 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 buying an additional 71,740 shares during the last quarter. Secured Retirement Advisors LLC acquired a new position in Wells Fargo & Company during the first quarter worth $408,000. RKL Wealth Management LLC increased its holdings in 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 last quarter. Finally, Three Bridge Wealth Advisors LLC acquired a new position in Wells Fargo & Company during the second quarter worth $364,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent analyst reports. Truist Financial boosted their target price on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday. Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday. Barclays boosted their target price on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Stock Down 0.9%

Shares of NYSE WFC opened at $83.25 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.07. The company has a market cap of $266.70 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.16 and a beta of 1.25. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $87.47. The stock has a 50-day moving average price of $81.21 and a two-hundred day moving average price of $76.90.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. As a group, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a $0.45 dividend. The ex-dividend date was Friday, August 8th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.61%.

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.