3Chopt Investment Partners LLC Has $4.26 Million Stock Holdings in Wells Fargo & Company $WFC

3Chopt Investment Partners LLC increased its holdings in Wells Fargo & Company (NYSE:WFC) by 3.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,147 shares of the financial services provider’s stock after purchasing an additional 1,857 shares during the period. Wells Fargo & Company makes up 1.0% of 3Chopt Investment Partners LLC’s portfolio, making the stock its 20th biggest position. 3Chopt Investment Partners LLC’s holdings in Wells Fargo & Company were worth $4,258,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC boosted its stake in Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after buying an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in shares of Wells Fargo & Company during the second quarter valued at $27,000. Motco lifted its holdings in shares of Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 326 shares during the period. Accent Capital Management LLC bought a new position in shares of Wells Fargo & Company during the first quarter valued at $29,000. Finally, 1248 Management LLC bought a new position in shares of Wells Fargo & Company during the first quarter valued at $31,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

WFC opened at $79.79 on Friday. The company has a fifty day moving average price of $80.63 and a two-hundred day moving average price of $76.48. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a 52 week low of $57.35 and a 52 week high of $86.65. The firm has a market capitalization of $255.60 billion, a PE ratio of 13.66, a P/E/G ratio of 1.29 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same period last year, the company earned $1.33 EPS. The firm’s revenue was up .6% on a year-over-year basis. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s payout ratio is 30.82%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WFC. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. The Goldman Sachs Group decreased their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Truist Financial boosted their target price on Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Dbs Bank raised Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Finally, Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.41.

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.