Orion Portfolio Solutions LLC Decreases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Orion Portfolio Solutions LLC lowered its holdings in Wells Fargo & Company (NYSE:WFCGet Rating) by 4.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,239 shares of the financial services provider’s stock after selling 1,753 shares during the period. Orion Portfolio Solutions LLC’s holdings in Wells Fargo & Company were worth $1,498,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. People s United Financial Inc. raised its holdings in shares of Wells Fargo & Company by 2.8% in the 4th quarter. People s United Financial Inc. now owns 19,035 shares of the financial services provider’s stock worth $913,000 after purchasing an additional 525 shares during the period. Hilltop Holdings Inc. lifted its position in shares of Wells Fargo & Company by 7.3% during the 4th quarter. Hilltop Holdings Inc. now owns 13,274 shares of the financial services provider’s stock valued at $637,000 after buying an additional 903 shares during the last quarter. LPL Financial LLC lifted its position in shares of Wells Fargo & Company by 9.3% during the 4th quarter. LPL Financial LLC now owns 1,588,600 shares of the financial services provider’s stock valued at $76,221,000 after buying an additional 135,553 shares during the last quarter. Freestone Capital Holdings LLC grew its stake in shares of Wells Fargo & Company by 2.6% during the 4th quarter. Freestone Capital Holdings LLC now owns 186,186 shares of the financial services provider’s stock worth $8,933,000 after acquiring an additional 4,740 shares during the period. Finally, Ulysses Management LLC increased its holdings in Wells Fargo & Company by 25.0% in the 4th quarter. Ulysses Management LLC now owns 50,000 shares of the financial services provider’s stock worth $2,399,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors own 72.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Citigroup dropped their price objective on shares of Wells Fargo & Company from $56.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. Barclays cut their price objective on shares of Wells Fargo & Company from $64.00 to $58.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Jefferies Financial Group dropped their target price on Wells Fargo & Company from $55.00 to $47.00 in a research report on Monday, July 11th. Royal Bank of Canada reduced their price target on Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, July 1st. Finally, Piper Sandler set a $48.00 price objective on Wells Fargo & Company in a report on Monday, June 20th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus price target of $55.97.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $41.52 on Friday. The firm has a fifty day simple moving average of $43.88 and a two-hundred day simple moving average of $44.46. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. Wells Fargo & Company has a twelve month low of $36.54 and a twelve month high of $60.30. The company has a market capitalization of $157.49 billion, a PE ratio of 9.96, a P/E/G ratio of 1.04 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFCGet Rating) last issued its earnings results on Friday, July 15th. The financial services provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.03). The company had revenue of $17.03 billion for the quarter, compared to analysts’ expectations of $17.54 billion. Wells Fargo & Company had a net margin of 22.52% and a return on equity of 10.67%. The company’s revenue was down 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.38 earnings per share. Research analysts expect that Wells Fargo & Company will post 4 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 5th were issued a dividend of $0.30 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Thursday, August 4th. Wells Fargo & Company’s dividend payout ratio is currently 28.78%.

Wells Fargo & Company Company Profile

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

See Also

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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