Naples Global Advisors LLC Invests $366,000 in Wells Fargo & Company $WFC

Key Points

• Naples Global Advisors LLC has invested approximately $366,000 to acquire 4,564 shares of Wells Fargo & Company, according to their recent 13F filing with the SEC.
• Wells Fargo recently declared a quarterly dividend of $0.45 per share, which is an increase from the previous $0.40 dividend, representing an annual yield of 2.2%.
• Research analysts have a consensus rating of "Moderate Buy" for Wells Fargo's stock, with a target price averaging around $83.74.

Naples Global Advisors LLC bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,564 shares of the financial services provider's stock, valued at approximately $366,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pure Financial Advisors LLC lifted its stake in shares of Wells Fargo & Company by 3.9% in the 2nd quarter. Pure Financial Advisors LLC now owns 20,993 shares of the financial services provider's stock valued at $1,682,000 after purchasing an additional 786 shares during the last quarter. B.O.S.S. Retirement Advisors LLC raised its holdings in Wells Fargo & Company by 15.8% during the 2nd quarter. B.O.S.S. Retirement Advisors LLC now owns 7,171 shares of the financial services provider's stock valued at $575,000 after buying an additional 978 shares during the period. Madrona Financial Services LLC lifted its position in Wells Fargo & Company by 5.9% in the second quarter. Madrona Financial Services LLC now owns 3,830 shares of the financial services provider's stock worth $307,000 after buying an additional 212 shares during the last quarter. Trilogy Capital Inc. boosted its stake in Wells Fargo & Company by 11.2% during the second quarter. Trilogy Capital Inc. now owns 3,351 shares of the financial services provider's stock worth $268,000 after buying an additional 337 shares during the period. Finally, Trust Co. of Vermont increased its position in Wells Fargo & Company by 4.1% during the second quarter. Trust Co. of Vermont now owns 11,972 shares of the financial services provider's stock valued at $959,000 after acquiring an additional 473 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup raised their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, September 23rd. Weiss Ratings restated a "hold (c)" rating on shares of Wells Fargo & Company in a research report on Saturday, September 27th. Phillip Securities cut Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Dbs Bank raised Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Finally, Truist Financial upped their price objective on Wells Fargo & Company from $86.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.74.

Wells Fargo & Company Trading Up 0.2%

WFC opened at $80.63 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The stock's fifty day moving average is $80.77 and its two-hundred day moving average is $76.28. The company has a market capitalization of $258.28 billion, a P/E ratio of 13.81, a PEG ratio of 1.24 and a beta of 1.25. Wells Fargo & Company has a 52 week low of $55.98 and a 52 week high of $86.65.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to analysts' expectations of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.33 EPS. Analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current 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 given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, August 8th. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's dividend payout ratio is currently 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.

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