VestGen Advisors LLC Has $1.56 Million Stock Position in Wells Fargo & Company $WFC

VestGen Advisors LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 9.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 19,617 shares of the financial services provider’s stock after purchasing an additional 1,737 shares during the period. VestGen Advisors LLC’s holdings in Wells Fargo & Company were worth $1,562,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Access Investment Management LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $25,000. McElhenny Sheffield Capital Management LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC lifted its holdings in Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the last quarter. Accent Capital Management LLC bought a new position in Wells Fargo & Company during the first quarter worth $29,000. Finally, Nova Wealth Management Inc. increased its holdings in shares of Wells Fargo & Company by 112.9% in the second quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 227 shares during 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 $85.31 on Tuesday. The company’s 50 day moving average price is $84.27 and its two-hundred day moving average price is $80.79. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $88.64. The firm has a market cap of $267.80 billion, a PE ratio of 14.03, a PEG ratio of 1.18 and a beta of 1.11. 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 results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. The company had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.42 earnings per share. Equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research reports. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Barclays increased their price target on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Truist Financial upped their target price on 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, Citigroup increased their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.