Diversify Advisory Services LLC Purchases New Holdings in Wells Fargo & Company $WFC

Diversify Advisory Services LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 58,391 shares of the financial services provider's stock, valued at approximately $5,096,000.

Several other large investors have also recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $25,000. Miller Capital Partners Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at $25,000. Navalign LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at $26,000. Joseph Group Capital Management acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at $28,000. Finally, Phillip James Consulting Co. bought a new position in Wells Fargo & Company in the first quarter worth $28,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WFC. Bank of America boosted their price target on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. 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 report on Wednesday, July 15th. Wall Street Zen upgraded shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Sunday, June 14th. Weiss Ratings reissued a "buy (b)" rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.61.

Wells Fargo & Company Stock Down 0.0%

Shares of NYSE WFC opened at $83.83 on Monday. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The business has a fifty day moving average of $86.08 and a two-hundred day moving average of $82.91. The stock has a market cap of $253.50 billion, a PE ratio of 12.18, a PEG 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 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.23. The business had revenue of $22.62 billion for the quarter, compared to analyst estimates of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 EPS. As a group, equities research analysts expect 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 declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 7th. Wells Fargo & Company's dividend payout ratio (DPR) 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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