Wells Fargo & Company $WFC Shares Purchased by Austin Private Wealth LLC

Austin Private Wealth LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 21.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 8,327 shares of the financial services provider’s stock after buying an additional 1,492 shares during the quarter. Austin Private Wealth LLC’s holdings in Wells Fargo & Company were worth $667,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of WFC. CBIZ Investment Advisory Services LLC grew 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 acquiring an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new stake in Wells Fargo & Company in the 2nd quarter worth approximately $27,000. Motco grew 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 acquiring an additional 326 shares during the period. Accent Capital Management LLC purchased a new stake in Wells Fargo & Company in the 1st quarter worth approximately $29,000. Finally, 1248 Management LLC purchased a new stake in Wells Fargo & Company in the 1st quarter worth approximately $31,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 0.2%

Shares of NYSE WFC opened at $86.86 on Wednesday. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $87.47. The firm has a fifty day moving average of $82.27 and a 200-day moving average of $78.11. The stock has a market capitalization of $278.25 billion, a PE ratio of 14.29, a P/E/G ratio of 1.20 and a beta of 1.25. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same period in the previous year, the company earned $1.42 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is 29.61%.

Analyst Ratings Changes

WFC has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Barclays lifted their target price on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Truist Financial lifted their target price on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company 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.