WealthTrust Axiom LLC Acquires 1,000 Shares of Wells Fargo & Company $WFC

WealthTrust Axiom LLC lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 20.1% in the second quarter, Holdings Channel reports. The fund owned 5,987 shares of the financial services provider’s stock after purchasing an additional 1,000 shares during the quarter. WealthTrust Axiom LLC’s holdings in Wells Fargo & Company were worth $480,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Livforsakringsbolaget Skandia Omsesidigt raised its position in Wells Fargo & Company by 2,735,254.3% during 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 purchasing an additional 949,735,001 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Wells Fargo & Company by 54.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock valued at $1,332,851,000 after purchasing an additional 5,894,747 shares during the last quarter. Laurel Wealth Advisors LLC increased its position in shares of Wells Fargo & Company by 8,010.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock valued at $158,135,000 after purchasing an additional 1,949,395 shares during the last quarter. Strs Ohio purchased a new stake in Wells Fargo & Company during the 1st quarter valued at $109,643,000. Finally, Canada Pension Plan Investment Board lifted its position in Wells Fargo & Company by 34.6% in the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock worth $381,016,000 after buying an additional 1,365,629 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the topic of several analyst reports. Truist Financial upped their price target on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Evercore ISI boosted their target price on Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. TD Cowen increased their price target on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Cowen reissued 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 research report on Tuesday, October 21st. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Stock Up 0.6%

Shares of NYSE:WFC opened at $85.61 on Friday. The business’s 50 day moving average is $84.24 and its 200 day moving average is $80.58. The stock has a market cap of $268.75 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $88.64. 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 released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the previous year, the company posted $1.42 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

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

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.