Stratos Investment Management LLC Grows Holdings in Wells Fargo & Company $WFC

Key Points

• Stratos Investment Management LLC significantly increased its holdings in Wells Fargo & Company by 362.4%, owning 49,145 shares valued at approximately $3.94 million as of the latest SEC filing.
• Wells Fargo's quarterly earnings exceeded analysts' expectations, reporting $1.54 EPS against a consensus estimate of $1.41, with revenues slightly lower than expected at $20.82 billion.
• The company has recently raised its quarterly dividend from $0.40 to $0.45, resulting in an annualized dividend yield of 2.1%.

Stratos Investment Management LLC boosted its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 362.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 49,145 shares of the financial services provider's stock after purchasing an additional 38,517 shares during the period. Stratos Investment Management LLC's holdings in Wells Fargo & Company were worth $3,938,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of WFC. Wealth Management Partners LLC increased its stake in shares of Wells Fargo & Company by 3.5% in the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider's stock worth $313,000 after acquiring an additional 128 shares in the last quarter. Verum Partners LLC grew its holdings in Wells Fargo & Company by 1.8% in the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider's stock worth $582,000 after purchasing an additional 128 shares during the period. Motive Wealth Advisors grew its holdings in Wells Fargo & Company by 3.7% in the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider's stock worth $293,000 after purchasing an additional 129 shares during the period. Vivid Wealth Management LLC increased its stake in shares of Wells Fargo & Company by 0.8% during the second quarter. Vivid Wealth Management LLC now owns 17,243 shares of the financial services provider's stock valued at $1,381,000 after purchasing an additional 133 shares in the last quarter. Finally, Lynch & Associates IN lifted its holdings in shares of Wells Fargo & Company by 2.0% during the second quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider's stock valued at $539,000 after purchasing an additional 135 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Down 2.9%

Shares of NYSE:WFC opened at $83.97 on Friday. The company has a market cap of $268.99 billion, a P/E ratio of 13.81, a PEG ratio of 1.39 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $87.47. The stock's fifty day moving average price is $81.10 and its 200-day moving average price is $76.82.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data 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 company had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.Wells Fargo & Company's revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company earned $1.33 EPS. Sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were paid a $0.45 dividend. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 30.82%.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of analyst reports. Weiss Ratings raised Wells Fargo & Company from a "hold (c)" rating to a "buy (b)" rating in a research report on Wednesday, October 8th. Cowen reissued a "hold" rating on shares of Wells Fargo & Company in a report on Wednesday. UBS Group cut their target price on Wells Fargo & Company from $95.00 to $93.00 and set a "buy" rating on the stock in a research note on Tuesday, October 7th. Truist Financial lifted their price target on Wells Fargo & Company from $88.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, TD Cowen increased their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a "hold" rating in a research report on Wednesday. Nine analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $89.57.

About Wells Fargo & Company

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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