BCS Wealth Management Takes Position in Wells Fargo & Company $WFC

Key Points

• BCS Wealth Management acquired a new stake in Wells Fargo & Company during the second quarter, purchasing 3,420 shares valued at approximately $274,000.
• Analysts have provided mixed ratings on Wells Fargo, with ten analysts rating the stock as a "Buy" and a consensus target price of $82.97.
• Wells Fargo recently increased its quarterly dividend from $0.40 to $0.45 per share, resulting in an annualized dividend of $1.80 and a yield of 2.1%.

BCS Wealth Management purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,420 shares of the financial services provider's stock, valued at approximately $274,000.

Several other large investors have also recently modified their holdings of the business. Charter Capital Management LLC DE bought a new position in shares of Wells Fargo & Company during the second quarter valued at $438,000. Norden Group LLC raised its stake in shares of Wells Fargo & Company by 3.1% during the second quarter. Norden Group LLC now owns 53,006 shares of the financial services provider's stock valued at $4,247,000 after acquiring an additional 1,609 shares during the last quarter. Accurate Wealth Management LLC raised its stake in Wells Fargo & Company by 11.3% during the second quarter. Accurate Wealth Management LLC now owns 9,388 shares of the financial services provider's stock worth $773,000 after buying an additional 951 shares during the last quarter. Waycross Partners LLC raised its stake in Wells Fargo & Company by 3.3% during the second quarter. Waycross Partners LLC now owns 469,385 shares of the financial services provider's stock worth $37,607,000 after buying an additional 14,873 shares during the last quarter. Finally, Forte Capital LLC ADV raised its stake in Wells Fargo & Company by 12.0% during the second quarter. Forte Capital LLC ADV now owns 5,683 shares of the financial services provider's stock worth $455,000 after buying an additional 609 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

WFC has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Truist Financial lifted their target price on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday. Dbs Bank raised shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Raymond James Financial downgraded shares of Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 7th. Finally, The Goldman Sachs Group lowered their target price 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. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $82.97.

Wells Fargo & Company Trading Down 0.2%

NYSE:WFC opened at $84.18 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $269.65 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 1.30 and a beta of 1.25. The firm has a fifty day simple moving average of $80.66 and a two-hundred day simple moving average of $75.62. Wells Fargo & Company has a 12 month low of $53.31 and a 12 month high of $86.65.

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 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to analysts' expectations of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business's quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $1.33 earnings per share. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

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

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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