Vident Advisory LLC Has $5.75 Million Stock Position in Wells Fargo & Company $WFC

Key Points

• Vident Advisory LLC has reduced its stake in Wells Fargo by 30.2%, now holding 80,083 shares valued at approximately $5.75 million.
• The company recently declared a quarterly dividend increase from $0.40 to $0.45 per share, yielding 2.2% annually.
• Wells Fargo reported earnings of $1.54 per share for the last quarter, exceeding expectations, with a year-over-year revenue increase of 0.6%.

Vident Advisory LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 30.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,083 shares of the financial services provider's stock after selling 34,623 shares during the period. Vident Advisory LLC's holdings in Wells Fargo & Company were worth $5,749,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Accretive Wealth Partners LLC acquired a new stake in Wells Fargo & Company during the first quarter valued at $399,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Wells Fargo & Company by 10.4% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider's stock worth $54,471,000 after buying an additional 71,740 shares during the last quarter. Secured Retirement Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter worth about $408,000. RKL Wealth Management LLC lifted its position in shares of Wells Fargo & Company by 166.4% in the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider's stock worth $588,000 after buying an additional 5,113 shares during the last quarter. Finally, Allianz SE lifted its position in shares of Wells Fargo & Company by 22.6% in the first quarter. Allianz SE now owns 212,335 shares of the financial services provider's stock worth $15,244,000 after buying an additional 39,150 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

NYSE WFC opened at $82.15 on Friday. Wells Fargo & Company has a twelve month low of $50.22 and a twelve month high of $84.83. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market capitalization of $263.17 billion, a PE ratio of 14.07, a P/E/G ratio of 1.27 and a beta of 1.20. The stock has a 50-day simple moving average of $80.31 and a 200 day simple moving average of $75.02.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data 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. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business had revenue of $20.82 billion during the quarter, compared to analysts' expectations of $20.83 billion. During the same quarter in the previous year, the firm earned $1.33 EPS. The firm's revenue was up .6% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 8th will be paid a dividend of $0.45 per share. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, August 8th. Wells Fargo & Company's dividend payout ratio is presently 30.82%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WFC. Truist Financial boosted their price target on Wells Fargo & Company from $83.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group reduced their price target on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Morgan Stanley boosted their price target on Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Cowen reaffirmed a "hold" rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $81.58.

Wells Fargo & 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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