Evelyn Partners Investment Management LLP Buys 3,127 Shares of Wells Fargo & Company $WFC

Evelyn Partners Investment Management LLP lifted its position in Wells Fargo & Company (NYSE:WFC) by 416.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,877 shares of the financial services provider’s stock after purchasing an additional 3,127 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Wells Fargo & Company were worth $311,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in WFC. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Wells Fargo & Company by 2,735,254.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after buying an additional 949,735,001 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Wells Fargo & Company by 54.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock worth $1,332,851,000 after acquiring an additional 5,894,747 shares in the last quarter. Strs Ohio bought a new stake in Wells Fargo & Company during the 1st quarter worth approximately $109,643,000. Canada Pension Plan Investment Board grew its position in Wells Fargo & Company by 34.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock worth $381,016,000 after acquiring an additional 1,365,629 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Wells Fargo & Company by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock valued at $24,203,688,000 after purchasing an additional 1,341,222 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $83.14 on Friday. The stock has a market capitalization of $260.98 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $88.64. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $84.00 and a two-hundred day moving average price of $80.29.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.18. 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 for the quarter, compared to analyst estimates of $21.11 billion. During the same quarter last year, the firm earned $1.42 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Friday, November 7th. Wells Fargo & Company’s payout ratio is currently 29.61%.

Wall Street Analyst Weigh In

A number of research firms have commented on WFC. Keefe, Bruyette & Woods boosted their price objective on 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. UBS Group reduced their price target 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. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Truist Financial raised their price objective on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus 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.