Dynamic Advisor Solutions LLC Sells 4,690 Shares of Wells Fargo & Company $WFC

Key Points

• Dynamic Advisor Solutions LLC reduced its stake in Wells Fargo & Company by 14.9%, selling 4,690 shares during the second quarter, leaving them with 26,685 shares valued at approximately $2.14 million.
• Wells Fargo recently announced an increase in its quarterly dividend to $0.45 per share, up from $0.40, indicating a 2.2% yield.
• Current consensus ratings for Wells Fargo stock include 10 "Buy" ratings and 7 "Hold" ratings, with an average target price of $82.56.

Dynamic Advisor Solutions LLC decreased its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 14.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,685 shares of the financial services provider's stock after selling 4,690 shares during the quarter. Dynamic Advisor Solutions LLC's holdings in Wells Fargo & Company were worth $2,138,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC grew its holdings in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 322 shares in the last quarter. Motco grew its holdings in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 326 shares in the last quarter. Accent Capital Management LLC bought a new position in shares of Wells Fargo & Company in the first quarter valued at approximately $29,000. 1248 Management LLC bought a new position in Wells Fargo & Company in the 1st quarter valued at $31,000. Finally, Stone House Investment Management LLC bought a new position in Wells Fargo & Company in the 1st quarter valued at $34,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $83.51 on Friday. The firm has a market capitalization of $267.51 billion, a price-to-earnings ratio of 14.30, a P/E/G ratio of 1.28 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a fifty day moving average of $80.40 and a 200 day moving average of $75.30. Wells Fargo & Company has a 52-week low of $53.31 and a 52-week high of $84.83.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.13. The firm had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company posted $1.33 EPS. On average, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a dividend of $0.45 per share. The ex-dividend date was Friday, August 8th. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 30.82%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Piper Sandler restated an "overweight" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Cowen reissued a "hold" rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Evercore ISI reissued an "outperform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Dbs Bank raised shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley increased their price objective on Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and an average target price 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.

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