Wells Fargo & Company $WFC Stock Holdings Lessened by BLB&B Advisors LLC

BLB&B Advisors LLC reduced its holdings in Wells Fargo & Company (NYSE:WFC) by 6.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 15,790 shares of the financial services provider’s stock after selling 1,046 shares during the quarter. BLB&B Advisors LLC’s holdings in Wells Fargo & Company were worth $1,265,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of WFC. Brighton Jones LLC lifted its position in shares of Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after buying an additional 25,436 shares during the last quarter. Koshinski Asset Management Inc. lifted its position in shares of Wells Fargo & Company by 9.4% in the 1st quarter. Koshinski Asset Management Inc. now owns 10,185 shares of the financial services provider’s stock worth $731,000 after buying an additional 875 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Wells Fargo & Company by 64.9% in the 1st quarter. Vontobel Holding Ltd. now owns 75,921 shares of the financial services provider’s stock valued at $5,450,000 after purchasing an additional 29,870 shares during the last quarter. Novem Group lifted its position in Wells Fargo & Company by 87.5% in the 1st quarter. Novem Group now owns 5,768 shares of the financial services provider’s stock valued at $414,000 after purchasing an additional 2,692 shares during the last quarter. Finally, Capital Investment Counsel Inc lifted its position in Wells Fargo & Company by 1.2% in the 1st quarter. Capital Investment Counsel Inc now owns 39,808 shares of the financial services provider’s stock valued at $2,858,000 after purchasing an additional 460 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 0.1%

WFC stock opened at $85.92 on Friday. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $87.47. The company has a market capitalization of $275.23 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25. The firm’s 50-day moving average is $82.59 and its two-hundred day moving average is $78.32. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the previous year, the firm earned $1.42 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is currently 29.61%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WFC. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. TD Cowen lifted their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Finally, Bank of America lifted their price objective on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $89.57.

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.