Revisor Wealth Management LLC Acquires New Stake in Wells Fargo & Company $WFC

Key Points

• Revisor Wealth Management LLC acquired a new stake in Wells Fargo, adding 16,473 shares valued at approximately $1.36 million during the second quarter.
• Analysts have mixed opinions on WFC stock; Raymond James downgraded the stock to "market perform" while Morgan Stanley increased the target price to $87.00.
• Wells Fargo recently increased its quarterly dividend from $0.40 to $0.45, reflecting a 2.1% yield and a payout ratio of 30.82%.

Revisor Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 16,473 shares of the financial services provider's stock, valued at approximately $1,357,000.

A number of other hedge funds have also made changes to their positions in WFC. CBIZ Investment Advisory Services LLC increased its stake in shares of Wells Fargo & Company by 585.5% during 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 during the period. Motco boosted its holdings in Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider's stock worth $29,000 after buying an additional 326 shares in the last quarter. Accent Capital Management LLC bought a new stake in Wells Fargo & Company during the first quarter worth approximately $29,000. 1248 Management LLC bought a new stake in Wells Fargo & Company during the first quarter worth approximately $31,000. Finally, Stone House Investment Management LLC bought a new stake in Wells Fargo & Company during the first quarter worth approximately $34,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on WFC shares. 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 report on Friday, August 22nd. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Truist Financial raised their target price on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Phillip Securities cut shares of Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.56.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $85.17 on Tuesday. The company has a market capitalization of $272.85 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25. Wells Fargo & Company has a one year low of $53.31 and a one year high of $85.28. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The company's fifty day moving average price is $80.47 and its 200 day moving average price is $75.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its 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. The firm had revenue of $20.82 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.33 EPS. As a group, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a $0.45 dividend. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company's payout ratio is 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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