Adams Asset Advisors LLC Lowers Stock Holdings in Wells Fargo & Company $WFC

Adams Asset Advisors LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 8.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,478 shares of the financial services provider's stock after selling 14,411 shares during the period. Wells Fargo & Company accounts for about 1.8% of Adams Asset Advisors LLC's holdings, making the stock its 11th biggest position. Adams Asset Advisors LLC's holdings in Wells Fargo & Company were worth $12,938,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Accretive Wealth Partners LLC purchased a new position in shares of Wells Fargo & Company during the 1st quarter valued at $399,000. Banco Bilbao Vizcaya Argentaria S.A. grew its position in Wells Fargo & Company by 10.4% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider's stock worth $54,471,000 after buying an additional 71,740 shares in the last quarter. Secured Retirement Advisors LLC bought a new position in Wells Fargo & Company in the 1st quarter worth about $408,000. RKL Wealth Management LLC increased its stake in Wells Fargo & Company by 166.4% in the 1st quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider's stock worth $588,000 after acquiring an additional 5,113 shares during the last quarter. Finally, Allianz SE raised its holdings in shares of Wells Fargo & Company by 22.6% in the 1st quarter. Allianz SE now owns 212,335 shares of the financial services provider's stock valued at $15,244,000 after acquiring an additional 39,150 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 0.3%

Shares of WFC opened at $81.46 on Monday. Wells Fargo & Company has a fifty-two week low of $51.75 and a fifty-two week high of $84.83. The firm has a market cap of $260.95 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.27 and a beta of 1.25. The firm has a 50 day moving average price of $80.38 and a 200-day moving average price of $75.14. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84.

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

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a $0.45 dividend. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 30.82%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WFC. Phillip Securities lowered Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. The Goldman Sachs Group cut their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Piper Sandler restated an "overweight" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Citigroup reaffirmed a "neutral" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, Evercore ISI reissued an "outperform" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $82.56.

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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