Leo Wealth LLC Boosts Stock Holdings in Wells Fargo & Company $WFC

Leo Wealth LLC raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 24.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,938 shares of the financial services provider’s stock after buying an additional 1,149 shares during the period. Leo Wealth LLC’s holdings in Wells Fargo & Company were worth $476,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wealth Management Partners LLC lifted its stake in shares of Wells Fargo & Company by 3.5% in 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 during the period. Verum Partners LLC lifted 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 buying an additional 128 shares during the period. Motive Wealth Advisors lifted its position 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 valued at $293,000 after buying an additional 129 shares during the period. Lynch & Associates IN lifted its position in Wells Fargo & Company by 2.0% during 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 during the period. Finally, Financial Management Professionals Inc. lifted its position in Wells Fargo & Company by 19.3% during 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 during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WFC has been the subject of several recent research reports. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday. Evercore ISI lifted their price objective on Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. UBS Group lowered their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday. Dbs Bank raised Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Finally, Raymond James Financial lowered Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $85.41.

Wells Fargo & Company Stock Up 0.1%

WFC opened at $79.79 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The firm has a 50 day moving average price of $80.63 and a 200-day moving average price of $76.48. Wells Fargo & Company has a twelve month low of $57.35 and a twelve month high of $86.65. The stock has a market capitalization of $255.60 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.29 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last announced 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 business had revenue of $20.82 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.33 EPS. Equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, August 8th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s payout ratio is currently 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.