Arista Wealth Management LLC Has $1.13 Million Stock Holdings in Wells Fargo & Company $WFC

Key Points

• Arista Wealth Management LLC increased its stake in Wells Fargo & Company by 231.8% in the second quarter, holding 14,133 shares worth approximately $1.13 million.
• Wells Fargo recently reported earnings of $1.54 EPS, surpassing expectations, with a revenue of $20.82 billion for the last quarter, reflecting a 0.6% year-over-year increase.
• The company also raised its quarterly dividend from $0.40 to $0.45, resulting in an annualized dividend of $1.80 and a yield of 2.1%.

Arista Wealth Management LLC boosted its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 231.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,133 shares of the financial services provider's stock after acquiring an additional 9,874 shares during the period. Arista Wealth Management LLC's holdings in Wells Fargo & Company were worth $1,132,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Wells Fargo & Company by 2,735,254.3% in 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 purchasing an additional 949,735,001 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of 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 buying an additional 7,894,919 shares during the last quarter. Strs Ohio acquired a new position in Wells Fargo & Company in the first quarter valued at approximately $109,643,000. Canada Pension Plan Investment Board boosted its stake 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 acquiring an additional 1,365,629 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake 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 acquiring an additional 1,152,181 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Down 2.9%

Shares of Wells Fargo & Company stock opened at $83.97 on Friday. The company has a market capitalization of $268.99 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 1.39 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.83. The business has a 50-day moving average of $81.10 and a two-hundred day moving average of $76.82. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $87.47.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same period in the previous year, the firm earned $1.33 EPS. Wells Fargo & Company's quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. Wells Fargo & Company's dividend payout ratio is currently 30.82%.

Wall Street Analyst Weigh In

Several brokerages have commented on WFC. TD Cowen upped their target price on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a "hold" rating in a research report on Wednesday. Cowen reaffirmed a "hold" rating on shares of Wells Fargo & Company in a research note on Wednesday. Truist Financial upped their price objective on Wells Fargo & Company from $88.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday. Evercore ISI increased their target price on Wells Fargo & Company from $94.00 to $98.00 and gave the company an "outperform" rating in a research note on Tuesday, September 30th. Finally, Bank of America raised their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a "buy" rating in a report on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.57.

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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