Compass Financial Management LLC Acquires Shares of 17,089 Wells Fargo & Company $WFC

Compass Financial Management LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 17,089 shares of the financial services provider’s stock, valued at approximately $1,437,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. Godfrey Financial Associates Inc. purchased a new position in Wells Fargo & Company during the fourth quarter valued at $25,000. Miller Capital Partners Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $25,000. Navalign LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $26,000. Joseph Group Capital Management purchased a new position in Wells Fargo & Company in the 4th quarter valued at about $28,000. Finally, Phillip James Consulting Co. purchased a new position in Wells Fargo & Company in the 1st quarter valued at about $28,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Truist Financial boosted their price target on Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Morgan Stanley boosted their price target on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Finally, Bank of America raised their price objective on Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.61.

Wells Fargo & Company Stock Up 0.1%

Shares of NYSE WFC opened at $84.82 on Wednesday. The stock has a market cap of $256.51 billion, a PE ratio of 12.33, a P/E/G ratio of 0.92 and a beta of 0.92. 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 12-month low of $72.78 and a 12-month high of $97.76. The company has a 50-day moving average of $86.11 and a 200 day moving average of $82.79.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. The business had revenue of $22.62 billion for the quarter, compared to analyst estimates 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 was up 8.6% on a year-over-year basis. During the same period last year, the company posted $1.60 EPS. As a group, sell-side analysts predict that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a $0.50 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 7th. Wells Fargo & Company’s payout ratio is 29.07%.

Wells Fargo & Company 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.