Wells Fargo & Company $WFC Shares Bought by Wilsey Asset Management Inc.

Wilsey Asset Management Inc. lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 524,048 shares of the financial services provider’s stock after purchasing an additional 9,717 shares during the quarter. Wells Fargo & Company accounts for approximately 6.4% of Wilsey Asset Management Inc.’s holdings, making the stock its 6th largest position. Wilsey Asset Management Inc.’s holdings in Wells Fargo & Company were worth $43,307,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of WFC. Brighton Jones LLC boosted its holdings in shares of Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after acquiring an additional 25,436 shares in the last quarter. Jump Financial LLC raised its holdings in Wells Fargo & Company by 12.9% during the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock worth $1,835,000 after purchasing an additional 2,615 shares in the last quarter. Main Street Financial Solutions LLC lifted its position in Wells Fargo & Company by 111.0% in the second quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock worth $1,122,000 after purchasing an additional 7,368 shares during the period. Vivaldi Capital Management LP lifted its position in Wells Fargo & Company by 5.4% in the second quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 165 shares during the period. Finally, Diversify Advisory Services LLC boosted its stake in Wells Fargo & Company by 51.2% during the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock valued at $2,044,000 after purchasing an additional 8,714 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WFC. UBS Group lowered their price target on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Piper Sandler restated an “overweight” rating and issued a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a report on Wednesday, April 15th. Raymond James Financial reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. JPMorgan Chase & Co. lifted their target price on Wells Fargo & Company from $93.50 to $95.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.61.

Wells Fargo & Company Price Performance

NYSE WFC opened at $87.57 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The company has a market cap of $264.81 billion, a PE ratio of 12.73, a PEG ratio of 0.97 and a beta of 0.92. The stock’s 50-day moving average price is $84.70 and its two-hundred day moving average price is $83.03.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.73 by $0.23. The company had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company posted $1.60 earnings per share. On average, analysts predict that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio (DPR) is 26.16%.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.