Wells Fargo & Company $WFC Shares Purchased by Ashton Thomas Private Wealth LLC

Key Points

• Ashton Thomas Private Wealth LLC increased its holdings in Wells Fargo by 21.5% in the first quarter, now owning 170,076 shares valued at $12.21 million.
• Wells Fargo recently reported earnings of $1.54 per share, surpassing analysts' expectations and showing a year-over-year revenue increase of 0.6%.
• The company has raised its quarterly dividend to $0.45, marking an increase from the previous $0.40 and representing a yield of 2.3%.

Ashton Thomas Private Wealth LLC raised its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 21.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,076 shares of the financial services provider's stock after purchasing an additional 30,047 shares during the quarter. Ashton Thomas Private Wealth LLC's holdings in Wells Fargo & Company were worth $12,210,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in WFC. Brighton Jones LLC increased its stake in shares of Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider's stock valued at $4,652,000 after purchasing an additional 25,436 shares during the period. CoreCap Advisors LLC increased its stake in shares of Wells Fargo & Company by 26.9% in the fourth quarter. CoreCap Advisors LLC now owns 5,660 shares of the financial services provider's stock valued at $398,000 after purchasing an additional 1,200 shares during the period. Ethic Inc. increased its stake in shares of Wells Fargo & Company by 58.5% in the fourth quarter. Ethic Inc. now owns 54,048 shares of the financial services provider's stock valued at $3,796,000 after purchasing an additional 19,955 shares during the period. Gotham Asset Management LLC increased its stake in shares of Wells Fargo & Company by 2.8% in the fourth quarter. Gotham Asset Management LLC now owns 75,310 shares of the financial services provider's stock valued at $5,290,000 after purchasing an additional 2,064 shares during the period. Finally, Gen Wealth Partners Inc increased its stake in shares of Wells Fargo & Company by 241.4% in the fourth quarter. Gen Wealth Partners Inc now owns 1,707 shares of the financial services provider's stock valued at $120,000 after purchasing an additional 1,207 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of WFC stock traded up $0.25 during mid-day trading on Monday, hitting $79.21. 17,105,057 shares of the stock traded hands, compared to its average volume of 12,669,898. Wells Fargo & Company has a twelve month low of $50.22 and a twelve month high of $84.83. The firm has a market cap of $253.73 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 1.23 and a beta of 1.25. The company's 50-day simple moving average is $80.52 and its 200-day simple moving average is $75.01. 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 posted its quarterly earnings results 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. The firm 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 in the previous year, the business posted $1.33 earnings per share. As a group, equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.3%. This is a positive change 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 (DPR) is presently 30.82%.

Analyst Ratings Changes

Several brokerages have commented on WFC. TD Cowen began coverage on shares of Wells Fargo & Company in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 price target on the stock. Raymond James Financial lowered shares of Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 7th. Piper Sandler reiterated an "overweight" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Dbs Bank upgraded shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and an average 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.