Osterweis Capital Management Inc. Has $143,000 Stock Position in Wells Fargo & Company $WFC

Osterweis Capital Management Inc. lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 27.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,993 shares of the financial services provider’s stock after selling 760 shares during the quarter. Osterweis Capital Management Inc.’s holdings in Wells Fargo & Company were worth $143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Accretive Wealth Partners LLC acquired a new stake in Wells Fargo & Company in the 1st quarter valued at approximately $399,000. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of Wells Fargo & Company by 10.4% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock worth $54,471,000 after purchasing an additional 71,740 shares in the last quarter. Secured Retirement Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 1st quarter worth approximately $408,000. RKL Wealth Management LLC grew its holdings in shares of Wells Fargo & Company by 166.4% during the 1st quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock worth $588,000 after purchasing an additional 5,113 shares in the last quarter. Finally, Allianz SE grew its holdings in shares of Wells Fargo & Company by 22.6% during the 1st quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock worth $15,244,000 after purchasing an additional 39,150 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $81.14 on Friday. The stock’s fifty day simple moving average is $80.42 and its 200 day simple moving average is $75.12. 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 firm has a market cap of $259.93 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.25 and a beta of 1.25. Wells Fargo & Company has a one year low of $50.22 and a one year high of $84.83.

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

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.2%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s payout ratio is presently 30.82%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on WFC shares. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Phillip Securities lowered Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Citigroup reissued a “neutral” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Piper Sandler reissued an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $82.56.

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.