Eubel Brady & Suttman Asset Management Inc. Buys 1,463 Shares of Wells Fargo & Company $WFC

Eubel Brady & Suttman Asset Management Inc. lifted its stake in Wells Fargo & Company (NYSE:WFC) by 0.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 193,666 shares of the financial services provider’s stock after purchasing an additional 1,463 shares during the quarter. Wells Fargo & Company accounts for approximately 2.0% of Eubel Brady & Suttman Asset Management Inc.’s investment portfolio, making the stock its 25th largest holding. Eubel Brady & Suttman Asset Management Inc.’s holdings in Wells Fargo & Company were worth $15,517,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Wealth Management Partners LLC boosted its stake in shares of Wells Fargo & Company by 3.5% in the second quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after buying an additional 128 shares during the period. Verum Partners LLC raised its position in Wells Fargo & Company by 1.8% during the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock valued at $582,000 after purchasing an additional 128 shares in the last quarter. Motive Wealth Advisors lifted its stake in Wells Fargo & Company by 3.7% during the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 129 shares during the last quarter. Exencial Wealth Advisors LLC lifted its stake in Wells Fargo & Company by 0.7% during the second quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider’s stock worth $1,443,000 after purchasing an additional 131 shares during the last quarter. Finally, Yukon Wealth Management Inc. lifted its stake in Wells Fargo & Company by 4.3% during the second quarter. Yukon Wealth Management Inc. now owns 3,179 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 132 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WFC has been the subject of several recent analyst reports. UBS Group cut their target price on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Truist Financial upped their target price on Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Morgan Stanley upped their target price on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Bank of America upped their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research note 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Stock Down 0.2%

Shares of NYSE:WFC opened at $86.86 on Wednesday. The company has a fifty day moving average of $82.27 and a 200-day moving average of $78.11. The company has a market capitalization of $278.25 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 1.20 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $87.47.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.11. 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 company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 earnings per share. On average, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

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.