Maia Wealth LLC Sells 1,492 Shares of Wells Fargo & Company $WFC

Maia Wealth LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 19.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 6,173 shares of the financial services provider’s stock after selling 1,492 shares during the period. Maia Wealth LLC’s holdings in Wells Fargo & Company were worth $495,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Inceptionr LLC bought a new stake in shares of Wells Fargo & Company during the second quarter worth $1,131,000. Country Trust Bank boosted its holdings in shares of Wells Fargo & Company by 37.3% during the 2nd quarter. Country Trust Bank now owns 1,068 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 290 shares in the last quarter. Richmond Investment Services LLC grew its position in Wells Fargo & Company by 129.0% during the 2nd quarter. Richmond Investment Services LLC now owns 6,422 shares of the financial services provider’s stock worth $515,000 after acquiring an additional 3,618 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in Wells Fargo & Company by 22.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 102,378 shares of the financial services provider’s stock worth $8,203,000 after acquiring an additional 18,995 shares during the last quarter. Finally, North Star Asset Management Inc. increased its holdings in Wells Fargo & Company by 14.8% in the 2nd quarter. North Star Asset Management Inc. now owns 14,307 shares of the financial services provider’s stock worth $1,146,000 after purchasing an additional 1,841 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $85.61 on Thursday. The business has a 50-day moving average price of $84.20 and a two-hundred day moving average price of $80.55. 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 company has a market cap of $268.75 billion, a P/E ratio of 14.08, a PEG ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the previous year, the business earned $1.42 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WFC. Truist Financial lifted their price target on Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Citigroup boosted their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, Morgan Stanley lifted their price target 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. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.57.

About Wells Fargo & Company

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.