5,367 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by OneAscent Investment Solutions LLC

Key Points

• OneAscent Investment Solutions LLC acquired 5,367 shares of Wells Fargo & Company, valued at approximately $385,000, in the first quarter.
• Wells Fargo recently announced a quarterly dividend increase to $0.45 per share, with a yield of 2.3%, reflecting a commitment to returning value to shareholders.
• Analysts have mixed ratings on Wells Fargo, with a consensus price target of $80.39, indicating a general outlook leaning towards a "Moderate Buy" rating.

OneAscent Investment Solutions LLC bought a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 5,367 shares of the financial services provider's stock, valued at approximately $385,000.

Several other large investors also recently made changes to their positions in WFC. Safeguard Investment Advisory Group LLC lifted its position in shares of Wells Fargo & Company by 2.4% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock worth $410,000 after buying an additional 137 shares in the last quarter. Summit Wealth & Retirement Planning Inc. lifted its position in shares of Wells Fargo & Company by 4.3% during the 1st quarter. Summit Wealth & Retirement Planning Inc. now owns 3,362 shares of the financial services provider's stock worth $241,000 after buying an additional 139 shares in the last quarter. Nwam LLC lifted its position in shares of Wells Fargo & Company by 1.6% during the 1st quarter. Nwam LLC now owns 8,806 shares of the financial services provider's stock worth $632,000 after buying an additional 142 shares in the last quarter. Zullo Investment Group Inc. lifted its position in shares of Wells Fargo & Company by 2.4% during the 1st quarter. Zullo Investment Group Inc. now owns 6,327 shares of the financial services provider's stock worth $454,000 after buying an additional 147 shares in the last quarter. Finally, Fortem Financial Group LLC lifted its position in shares of Wells Fargo & Company by 2.3% during the 1st quarter. Fortem Financial Group LLC now owns 6,759 shares of the financial services provider's stock worth $485,000 after buying an additional 150 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Piper Sandler reaffirmed an "overweight" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Dbs Bank raised shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Phillip Securities cut shares of Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $80.39.

Wells Fargo & Company Trading Down 2.9%

Wells Fargo & Company stock traded down $2.32 during mid-day trading on Friday, hitting $77.09. The company's stock had a trading volume of 15,374,441 shares, compared to its average volume of 15,525,808. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market cap of $246.95 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.24 and a beta of 1.20. The business has a 50 day moving average price of $79.21 and a 200-day moving average price of $74.99. Wells Fargo & Company has a 12 month low of $50.22 and a 12 month high of $84.83.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.33 earnings per share. As a group, analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 8th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, August 8th. Wells Fargo & Company's payout ratio is currently 30.82%.

Wells Fargo & Company declared that its Board of Directors has approved a stock repurchase plan on Tuesday, April 29th that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.

Wells Fargo & 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.