Grimes & Company Inc. Has $2.72 Million Stock Position in Wells Fargo & Company $WFC

Grimes & Company Inc. raised its position in Wells Fargo & Company (NYSE:WFC) by 6.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 33,997 shares of the financial services provider’s stock after acquiring an additional 1,987 shares during the period. Grimes & Company Inc.’s holdings in Wells Fargo & Company were worth $2,724,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Wealth Management Partners LLC increased its stake in Wells Fargo & Company by 3.5% during the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 128 shares in the last quarter. Verum Partners LLC increased its position in shares of 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 worth $582,000 after acquiring an additional 128 shares in the last quarter. Motive Wealth Advisors raised its holdings in shares of Wells Fargo & Company by 3.7% in the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 129 shares during the last quarter. Lynch & Associates IN lifted its position in Wells Fargo & Company by 2.0% in the 2nd quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 135 shares in the last quarter. Finally, Financial Management Professionals Inc. lifted its position in Wells Fargo & Company by 19.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 854 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 138 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WFC has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Wells Fargo & Company in a report on Saturday, September 27th. Phillip Securities lowered Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Raymond James Financial cut Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Citigroup upped their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Finally, Piper Sandler reissued an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $83.74.

Wells Fargo & Company Trading Down 0.0%

Shares of Wells Fargo & Company stock opened at $80.63 on Tuesday. The firm has a market cap of $258.29 billion, a PE ratio of 13.81, a P/E/G ratio of 1.24 and a beta of 1.25. Wells Fargo & Company has a 1 year low of $56.80 and a 1 year high of $86.65. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a fifty day moving average price of $80.72 and a 200-day moving average price of $76.39.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The firm had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 EPS. Equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS 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 issued a $0.45 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company’s payout ratio is 30.82%.

About Wells Fargo & Company

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.