Arete Wealth Advisors LLC Acquires 16,817 Shares of Wells Fargo & Company $WFC

Key Points

• Arete Wealth Advisors LLC increased its position in Wells Fargo shares by 69.4%, owning 41,050 shares worth approximately $2.94 million.
• Wells Fargo recently announced a quarterly dividend increase to $0.45 per share, up from $0.40, reflecting a dividend yield of 2.3%.
• Analysts are optimistic about Wells Fargo, with a consensus rating of "Moderate Buy" and an average target price of $82.56.

Arete Wealth Advisors LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 69.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,050 shares of the financial services provider's stock after acquiring an additional 16,817 shares during the quarter. Arete Wealth Advisors LLC's holdings in Wells Fargo & Company were worth $2,947,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Motco increased its position in shares of Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 326 shares during the last quarter. Accent Capital Management LLC bought a new position in shares of Wells Fargo & Company during the 1st quarter valued at approximately $29,000. Stone House Investment Management LLC bought a new position in shares of Wells Fargo & Company during the 1st quarter valued at approximately $34,000. Orion Capital Management LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $35,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in Wells Fargo & Company during the first quarter valued at $36,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 2.0%

WFC stock traded up $1.57 during mid-day trading on Tuesday, reaching $80.71. The company had a trading volume of 17,134,567 shares, compared to its average volume of 12,804,843. 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 company has a market capitalization of $258.55 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 1.23 and a beta of 1.25. The firm has a 50 day moving average of $80.51 and a 200 day moving average of $75.05. 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 announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company had revenue of $20.82 billion for the quarter, compared to analysts' expectations of $20.83 billion. During the same quarter in the prior year, the firm earned $1.33 earnings per share. Wells Fargo & Company's revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's dividend payout ratio is currently 30.82%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Piper Sandler reiterated an "overweight" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Truist Financial upped their price target on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Finally, Dbs Bank raised Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus price target 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.