Earned Wealth Advisors LLC Raises Stock Position in Wells Fargo & Company $WFC

Earned Wealth Advisors LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 8.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,515 shares of the financial services provider’s stock after purchasing an additional 654 shares during the period. Earned Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFC. CBIZ Investment Advisory Services LLC lifted its holdings in shares of 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 valued at $27,000 after buying an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new position in Wells Fargo & Company in the second quarter valued at approximately $27,000. Motco boosted its position 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 purchasing 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 approximately $29,000. Finally, 1248 Management LLC acquired a new stake in shares of Wells Fargo & Company during the 1st quarter worth approximately $31,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 0.1%

WFC stock opened at $85.92 on Friday. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week 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 firm has a 50-day simple moving average of $82.59 and a 200-day simple moving average of $78.32. The stock has a market capitalization of $275.23 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.18 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same period last year, the company posted $1.42 EPS. Wells Fargo & Company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company 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 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s payout ratio is presently 29.61%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WFC shares. Keefe, Bruyette & Woods increased their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, October 15th. UBS Group decreased their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Truist Financial increased 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. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 15th. Finally, Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average target price 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.