Evermay Wealth Management LLC Purchases 400 Shares of Wells Fargo & Company $WFC

Evermay Wealth Management LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,065 shares of the financial services provider’s stock after acquiring an additional 400 shares during the quarter. Evermay Wealth Management LLC’s holdings in Wells Fargo & Company were worth $726,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WFC. Brighton Jones LLC raised its position in Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after acquiring an additional 25,436 shares in the last quarter. GAMMA Investing LLC raised its position in Wells Fargo & Company by 11.3% during the first quarter. GAMMA Investing LLC now owns 47,264 shares of the financial services provider’s stock worth $3,393,000 after acquiring an additional 4,786 shares in the last quarter. Advisor Resource Council bought a new stake in Wells Fargo & Company during the first quarter worth $326,000. Appleton Partners Inc. MA raised its position in Wells Fargo & Company by 25.1% during the first quarter. Appleton Partners Inc. MA now owns 11,108 shares of the financial services provider’s stock worth $797,000 after acquiring an additional 2,232 shares in the last quarter. Finally, Nilsine Partners LLC raised its position in Wells Fargo & Company by 7.5% during the first quarter. Nilsine Partners LLC now owns 7,961 shares of the financial services provider’s stock worth $572,000 after acquiring an additional 553 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $83.25 on Monday. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a 50-day simple moving average of $81.21 and a two-hundred day simple moving average of $77.01. The stock has a market capitalization of $266.70 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 1.15 and a beta of 1.25.

Wells Fargo & Company Increases Dividend

The firm 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. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WFC shares. Evercore ISI upped their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Barclays upped their price objective on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup upped their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, October 15th. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average price target of $89.57.

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.