Calamos Wealth Management LLC Acquires 6,210 Shares of Wells Fargo & Company $WFC

Key Points

• Calamos Wealth Management LLC increased its holdings in Wells Fargo & Company by 3.1% during the 2nd quarter, acquiring an additional 6,210 shares, bringing their total to 204,322 shares valued at approximately $16.37 million.
• Analysts have recently updated their ratings for Wells Fargo, with Evercore ISI raising their price target from $94.00 to $98.00, while Bank of America increased their target from $92.00 to $100.00, indicating a strong consensus outlook.
• Wells Fargo recently declared a quarterly dividend of $0.45, up from the previous dividend of $0.40, representing an annualized yield of 2.2%, showcasing the company's commitment to returning value to shareholders.

Calamos Wealth Management LLC boosted its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,322 shares of the financial services provider's stock after acquiring an additional 6,210 shares during the quarter. Calamos Wealth Management LLC's holdings in Wells Fargo & Company were worth $16,370,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Accretive Wealth Partners LLC bought a new position in Wells Fargo & Company in the 1st quarter valued at approximately $399,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of Wells Fargo & Company by 10.4% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider's stock valued at $54,471,000 after buying an additional 71,740 shares during the period. Secured Retirement Advisors LLC bought a new position in shares of Wells Fargo & Company during the 1st quarter valued at $408,000. RKL Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 166.4% during the 1st quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider's stock valued at $588,000 after buying an additional 5,113 shares during the period. Finally, Three Bridge Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at $364,000. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Evercore ISI increased their price target on Wells Fargo & Company from $94.00 to $98.00 and gave the company an "outperform" rating in a report on Tuesday, September 30th. UBS Group lowered their price target on Wells Fargo & Company from $95.00 to $93.00 and set a "buy" rating on the stock in a report on Tuesday, October 7th. Wall Street Zen raised Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Saturday, October 4th. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the company a "market perform" rating in a report on Wednesday. Finally, Bank of America increased their price target on Wells Fargo & Company from $92.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $89.57.

Wells Fargo & Company Stock Down 0.9%

Shares of NYSE:WFC opened at $83.25 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.07. The company has a market cap of $266.70 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.15 and a beta of 1.25. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $87.47. The company has a 50-day moving average price of $81.21 and a 200 day moving average price of $76.93.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's payout ratio is currently 29.61%.

Wells Fargo & 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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