Bell & Brown Wealth Advisors LLC Takes Position in Wells Fargo & Company $WFC

Bell & Brown Wealth Advisors LLC acquired a new position in Wells Fargo & Company (NYSE:WFC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,997 shares of the financial services provider's stock, valued at approximately $5,206,000. Wells Fargo & Company comprises approximately 1.6% of Bell & Brown Wealth Advisors LLC's holdings, making the stock its 24th largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WFC. Bryn Mawr Trust Advisors LLC bought a new stake in Wells Fargo & Company during the 2nd quarter valued at approximately $658,000. Swiss Life Asset Management Ltd increased its position in Wells Fargo & Company by 4.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider's stock worth $32,673,000 after buying an additional 14,168 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Wells Fargo & Company by 4.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider's stock worth $38,446,000 after buying an additional 17,302 shares during the last quarter. Norges Bank acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $4,512,563,000. Finally, Winning Points Advisors LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $3,384,000. Institutional investors own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

WFC has been the topic of several research analyst reports. Robert W. Baird raised their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Weiss Ratings reiterated a "buy (b)" rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Raymond James Financial reissued a "market perform" rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. Truist Financial boosted their price target on Wells Fargo & Company from $90.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Finally, Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $98.61.

Wells Fargo & Company Trading Down 0.0%

WFC stock opened at $83.83 on Monday. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The business's 50 day moving average is $86.08 and its 200-day moving average is $82.91. The firm has a market cap of $253.50 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.91 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The business had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same quarter last year, the company earned $1.60 EPS. Wells Fargo & Company's revenue was up 8.6% on a year-over-year basis. Equities analysts anticipate that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be paid a $0.50 dividend. The ex-dividend date is Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.45. Wells Fargo & Company's dividend payout ratio is presently 29.07%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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