West Financial Advisors LLC Trims Stake in Wells Fargo & Company $WFC

West Financial Advisors LLC reduced its holdings in Wells Fargo & Company (NYSE:WFC) by 34.8% during the second quarter, Holdings Channel.com reports. The fund owned 2,024 shares of the financial services provider’s stock after selling 1,082 shares during the quarter. West Financial Advisors LLC’s holdings in Wells Fargo & Company were worth $162,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Wealth Management Partners LLC increased its holdings in shares of Wells Fargo & Company by 3.5% in the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after buying an additional 128 shares during the last quarter. Verum Partners LLC grew its position in Wells Fargo & Company by 1.8% in the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after acquiring an additional 128 shares in the last quarter. Motive Wealth Advisors grew its position in Wells Fargo & Company by 3.7% in the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 129 shares in the last quarter. Lynch & Associates IN increased its stake in Wells Fargo & Company by 2.0% in the second quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 135 shares during the last quarter. Finally, Financial Management Professionals Inc. raised its position in Wells Fargo & Company by 19.3% during the second quarter. Financial Management Professionals Inc. now owns 854 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 138 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $80.47 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The company’s fifty day simple moving average is $80.84 and its two-hundred day simple moving average is $76.22. The firm has a market cap of $257.79 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.25 and a beta of 1.25. Wells Fargo & Company has a 12-month low of $54.40 and a 12-month high of $86.65.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to the consensus estimate 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 revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.33 EPS. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a dividend of $0.45 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is currently 30.82%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research reports. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Truist Financial upped their target price on Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Evercore ISI increased their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.74.

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.