SGL Investment Advisors Inc. Raises Position in Wells Fargo & Company $WFC

SGL Investment Advisors Inc. grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 119.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 9,044 shares of the financial services provider’s stock after acquiring an additional 4,921 shares during the period. SGL Investment Advisors Inc.’s holdings in Wells Fargo & Company were worth $738,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC lifted its position in Wells Fargo & Company by 585.5% during the first 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 during the period. Motco increased its stake in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 326 shares in the last quarter. Accent Capital Management LLC purchased a new position in Wells Fargo & Company during the 1st quarter valued at about $29,000. 1248 Management LLC purchased a new position in Wells Fargo & Company during the 1st quarter valued at about $31,000. Finally, Stone House Investment Management LLC bought a new stake in Wells Fargo & Company during the first quarter worth about $34,000. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WFC. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Citigroup lifted their price objective on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Piper Sandler reissued an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. The Goldman Sachs Group lowered their price target on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Finally, Morgan Stanley downgraded shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $87.00 to $90.00 in a research report on Monday, September 29th. 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.com, Wells Fargo & Company has an average rating of “Moderate Buy” and an average price target of $83.74.

Wells Fargo & Company Trading Down 0.0%

Wells Fargo & Company stock opened at $80.63 on Tuesday. Wells Fargo & Company has a one year low of $56.80 and a one year high of $86.65. The business’s fifty day moving average is $80.72 and its 200 day moving average is $76.39. The stock has a market capitalization of $258.29 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data 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. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the prior year, the firm earned $1.33 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were paid a $0.45 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Wells Fargo & Company’s dividend payout ratio (DPR) 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.