Fermata Advisors LLC Trims Stock Position in Wells Fargo & Company $WFC

Fermata Advisors LLC trimmed its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 43.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,263 shares of the financial services provider's stock after selling 5,488 shares during the quarter. Fermata Advisors LLC's holdings in Wells Fargo & Company were worth $582,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC increased its holdings in Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock worth $27,000 after acquiring an additional 322 shares in the last quarter. Accent Capital Management LLC bought a new position in Wells Fargo & Company in the 1st quarter worth approximately $29,000. Motco boosted its stake in Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider's stock worth $29,000 after purchasing an additional 326 shares during the period. Nova Wealth Management Inc. boosted its stake in Wells Fargo & Company by 112.9% in the 2nd quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider's stock worth $34,000 after purchasing an additional 227 shares during the period. Finally, 1248 Management LLC bought a new position in Wells Fargo & Company in the 1st quarter worth approximately $31,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $81.39 on Wednesday. The firm has a market cap of $260.73 billion, a PE ratio of 13.94, a PEG ratio of 1.27 and a beta of 1.25. The firm has a fifty day moving average of $80.36 and a 200 day moving average of $75.20. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a one year low of $53.31 and a one year 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 EPS for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm had revenue of $20.82 billion during the quarter, compared to analysts' expectations of $20.83 billion. During the same period in the previous year, the business earned $1.33 earnings per share. The firm's revenue for the quarter was up .6% on a year-over-year basis. As a group, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors 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 positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 30.82%.

Analyst Ratings Changes

Several research firms have weighed in on WFC. Bank of America upped their price target on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Morgan Stanley upped their price target on Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Dbs Bank upgraded Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Phillip Securities downgraded Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $82.56.

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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