Wells Fargo & Company (NYSE:WFC) Shares Purchased by Krilogy Financial LLC

Krilogy Financial LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFCGet Rating) by 48.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,500 shares of the financial services provider’s stock after acquiring an additional 4,054 shares during the period. Krilogy Financial LLC’s holdings in Wells Fargo & Company were worth $490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Raymond James Trust N.A. grew its holdings in Wells Fargo & Company by 8.0% during the second quarter. Raymond James Trust N.A. now owns 186,138 shares of the financial services provider’s stock worth $7,291,000 after acquiring an additional 13,771 shares during the period. Steigerwald Gordon & Koch Inc. grew its holdings in Wells Fargo & Company by 1.8% in the second quarter. Steigerwald Gordon & Koch Inc. now owns 276,154 shares of the financial services provider’s stock valued at $10,817,000 after purchasing an additional 4,808 shares during the period. Adviser Investments LLC grew its holdings in Wells Fargo & Company by 19.6% in the second quarter. Adviser Investments LLC now owns 7,201 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 1,181 shares during the period. Highland Private Wealth Management grew its holdings in Wells Fargo & Company by 28.3% in the second quarter. Highland Private Wealth Management now owns 6,045 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 1,333 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. grew its holdings in Wells Fargo & Company by 89.0% in the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 35,784 shares of the financial services provider’s stock valued at $1,804,000 after purchasing an additional 16,851 shares during the period. 72.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WFC has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, September 12th. Piper Sandler set a $48.00 target price on Wells Fargo & Company in a research note on Monday, June 20th. Raymond James cut their target price on Wells Fargo & Company from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, June 24th. Royal Bank of Canada dropped their price objective on Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, July 1st. Finally, Barclays dropped their price objective on Wells Fargo & Company from $64.00 to $58.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.97.

Wells Fargo & Company Stock Down 1.8 %

Shares of NYSE WFC opened at $41.52 on Friday. Wells Fargo & Company has a 12-month low of $36.54 and a 12-month high of $60.30. The company has a market cap of $157.49 billion, a P/E ratio of 9.96, a P/E/G ratio of 1.04 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average price of $43.88 and a 200 day moving average price of $44.46.

Wells Fargo & Company (NYSE:WFCGet Rating) last announced 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 business had revenue of $17.03 billion for the quarter, compared to analyst estimates of $17.54 billion. Wells Fargo & Company had a net margin of 22.52% and a return on equity of 10.67%. The firm’s revenue was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.38 earnings per share. Research analysts anticipate that Wells Fargo & Company will post 4 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were issued a $0.30 dividend. The ex-dividend date was Thursday, August 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.89%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.25. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.78%.

About Wells Fargo & Company

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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.

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

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