OneAscent Financial Services LLC Purchases 23,485 Shares of Wells Fargo & Company (NYSE:WFC)

OneAscent Financial Services LLC boosted its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 89.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 49,874 shares of the financial services provider's stock after purchasing an additional 23,485 shares during the period. OneAscent Financial Services LLC's holdings in Wells Fargo & Company were worth $3,568,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WFC. Investment Counsel Co. of Nevada purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $28,000. BNP Paribas purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $28,000. Parvin Asset Management LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $32,000. Dunhill Financial LLC lifted its stake in Wells Fargo & Company by 63.7% in the 4th quarter. Dunhill Financial LLC now owns 496 shares of the financial services provider's stock worth $35,000 after purchasing an additional 193 shares in the last quarter. Finally, Orion Capital Management LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $35,000. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WFC has been the topic of a number of recent analyst reports. Evercore ISI reissued an "outperform" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Raymond James Financial cut shares of Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 7th. Wall Street Zen upgraded shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Friday. Citigroup reaffirmed a "neutral" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, Truist Financial upped their target price on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $80.39.

Wells Fargo & Company Trading Up 1.2%

WFC stock opened at $80.64 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $83.95. The stock has a market capitalization of $262.42 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 1.34 and a beta of 1.16. The firm's fifty day simple moving average is $77.14 and its two-hundred day simple moving average is $74.21.

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

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Shareholders of record on Friday, May 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.98%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company's payout ratio is 27.40%.

Wells Fargo & Company announced that its board has approved a stock buyback plan on Tuesday, April 29th that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its stock is undervalued.

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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