International Private Wealth Advisors LLC Invests $246,000 in Wells Fargo & Company $WFC

Key Points

• International Private Wealth Advisors LLC made a new investment of $246,000 in Wells Fargo & Company, acquiring 3,069 shares during the 2nd quarter.
• Wells Fargo has recently seen analysts increase its price target to $86.00, with an average rating of "Moderate Buy" based on reviews from ten analysts.
• The company reported earnings of $1.54 per share in its last quarterly results, exceeding expectations, and also increased its quarterly dividend to $0.45.

International Private Wealth Advisors LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,069 shares of the financial services provider's stock, valued at approximately $246,000.

Several other large investors also recently bought and sold shares of the stock. Summit Wealth & Retirement Planning Inc. increased its holdings in shares of Wells Fargo & Company by 4.3% in the 1st quarter. Summit Wealth & Retirement Planning Inc. now owns 3,362 shares of the financial services provider's stock valued at $241,000 after acquiring an additional 139 shares during the last quarter. Nwam LLC increased its position in Wells Fargo & Company by 1.6% during the first quarter. Nwam LLC now owns 8,806 shares of the financial services provider's stock worth $632,000 after buying an additional 142 shares in the last quarter. PGIM Custom Harvest LLC grew its position in shares of Wells Fargo & Company by 3.5% in the first quarter. PGIM Custom Harvest LLC now owns 4,225 shares of the financial services provider's stock valued at $303,000 after purchasing an additional 142 shares during the period. Tradition Wealth Management LLC boosted its holdings in Wells Fargo & Company by 0.5% in the first quarter. Tradition Wealth Management LLC now owns 30,420 shares of the financial services provider's stock valued at $2,184,000 after acquiring an additional 143 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. boosted its holdings in Wells Fargo & Company by 0.8% in the first quarter. Retirement Planning Co of New England Inc. now owns 18,434 shares of the financial services provider's stock valued at $1,323,000 after acquiring an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Dbs Bank upgraded Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Evercore ISI reiterated an "outperform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. The Goldman Sachs Group cut their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Truist Financial increased their target price on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus price target of $82.56.

Wells Fargo & Company Trading Up 1.3%

Shares of Wells Fargo & Company stock traded up $1.11 on Friday, hitting $84.61. 36,444,763 shares of the company's stock traded hands, compared to its average volume of 13,141,861. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a one year low of $53.31 and a one year high of $84.93. The firm's 50-day moving average price is $80.44 and its two-hundred day moving average price is $75.38. The stock has a market capitalization of $271.04 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the company earned $1.33 EPS. The company's revenue was up .6% on a year-over-year basis. 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 firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 30.82%.

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.