3,151 Shares in Wells Fargo & Company $WFC Bought by FSM Wealth Advisors LLC

Key Points

• FSM Wealth Advisors LLC acquired 3,151 shares of Wells Fargo & Company, valued at approximately $259,000, in the second quarter.
• Wells Fargo recently reported $1.66 earnings per share for the quarter, surpassing estimates and showing a 5.3% year-over-year revenue increase.
• The company announced an increase in its quarterly dividend to $0.45, marking a positive change from the previous $0.40 dividend.

FSM Wealth Advisors LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,151 shares of the financial services provider's stock, valued at approximately $259,000.

A number of other large investors have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider's stock valued at $76,095,550,000 after acquiring an additional 949,735,001 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Wells Fargo & Company by 277.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock worth $771,092,000 after purchasing an additional 7,894,919 shares in the last quarter. Strs Ohio purchased a new position in Wells Fargo & Company during the first quarter worth approximately $109,643,000. Canada Pension Plan Investment Board grew its holdings in Wells Fargo & Company by 34.6% in the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider's stock valued at $381,016,000 after purchasing an additional 1,365,629 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Wells Fargo & Company by 30.5% in the first quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider's stock valued at $353,668,000 after purchasing an additional 1,152,181 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on WFC. UBS Group reduced their target price on Wells Fargo & Company from $95.00 to $93.00 and set a "buy" rating for the company in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 15th. Piper Sandler reaffirmed an "overweight" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. The Goldman Sachs Group dropped their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Finally, Raymond James Financial cut shares of Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 7th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and an average target price of $89.57.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $84.35 on Friday. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $87.47. The firm has a market capitalization of $270.22 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.15 and a beta of 1.25. The company has a fifty day simple moving average of $81.71 and a 200-day simple moving average of $77.44. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

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

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a $0.45 dividend. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company's dividend payout ratio is 29.61%.

Wells Fargo & Company Company Profile

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.

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