Wells Fargo & Company $WFC Position Increased by Crux Wealth Advisors

Key Points

• Crux Wealth Advisors increased its holdings in Wells Fargo & Company by 42.2% during the second quarter, reaching a total of 22,691 shares valued at approximately $1.82 million.
• Wells Fargo recently raised its quarterly dividend from $0.40 to $0.45 per share, resulting in an annual dividend yield of 2.2%.
• Analysts have varying opinions on Wells Fargo, with ten giving a Buy rating and an average price target of $89.57, while others have downgraded their ratings in recent months.

Crux Wealth Advisors increased its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 42.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,691 shares of the financial services provider's stock after buying an additional 6,737 shares during the quarter. Crux Wealth Advisors' holdings in Wells Fargo & Company were worth $1,818,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC increased its stake in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new stake in Wells Fargo & Company during the second quarter valued at approximately $27,000. 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 acquired a new stake in shares of Wells Fargo & Company during the first quarter valued at approximately $29,000. Finally, 1248 Management LLC purchased a new position in Wells Fargo & Company during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Down 0.9%

Shares of Wells Fargo & Company stock opened at $83.25 on Friday. The firm has a market cap of $266.70 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 1.15 and a beta of 1.25. The stock has a 50-day simple moving average of $81.21 and a 200-day simple moving average of $76.93. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $87.47. 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 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 paid a dividend of $0.45 per share. This is a positive change 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 dividend yield of 2.2%. Wells Fargo & Company's dividend payout ratio (DPR) is currently 29.61%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Raymond James Financial cut Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 7th. Barclays lifted their target price on Wells Fargo & Company from $87.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday. Evercore ISI increased their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 30th. 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. Finally, Dbs Bank upgraded shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $89.57.

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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