Wells Fargo & Company $WFC Position Lifted by Callan Family Office LLC

Key Points

• Callan Family Office LLC significantly increased its stake in Wells Fargo by 207.5% during Q2, owning 230,618 shares valued at $18.5 million.
• Wells Fargo recently announced a quarterly dividend increase from $0.40 to $0.45 per share, marking an annualized yield of 2.3%.
• Analysts have mixed views on Wells Fargo, with target price adjustments and a consensus rating of "Moderate Buy", while estimates show expectations of an EPS of 5.89 for this fiscal year.

Callan Family Office LLC raised its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 207.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 230,618 shares of the financial services provider's stock after acquiring an additional 155,626 shares during the quarter. Wells Fargo & Company makes up 0.6% of Callan Family Office LLC's portfolio, making the stock its 26th biggest position. Callan Family Office LLC's holdings in Wells Fargo & Company were worth $18,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Accretive Wealth Partners LLC bought a new position in Wells Fargo & Company during the 1st quarter valued at $399,000. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Wells Fargo & Company by 10.4% during 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 purchasing an additional 71,740 shares during the period. Secured Retirement Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the first quarter worth $408,000. RKL Wealth Management LLC raised its holdings in shares of Wells Fargo & Company by 166.4% during the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider's stock worth $588,000 after purchasing an additional 5,113 shares during the period. Finally, Three Bridge Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter worth $364,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research reports. UBS Group dropped their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a "buy" rating on the stock in a report on Tuesday. Morgan Stanley cut shares of Wells Fargo & Company from an "overweight" rating to an "equal weight" rating and increased their target price for the stock from $87.00 to $90.00 in a report on Monday, September 29th. Evercore ISI increased their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. Dbs Bank raised shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.41.

Wells Fargo & Company Stock Up 0.1%

WFC stock opened at $79.79 on Friday. The stock has a market cap of $255.60 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 1.29 and a beta of 1.25. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The firm's 50-day simple moving average is $80.63 and its 200 day simple moving average is $76.48. Wells Fargo & Company has a fifty-two week low of $57.35 and a fifty-two week high of $86.65.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released 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. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same period in the previous year, the firm earned $1.33 EPS. Wells Fargo & Company's revenue was up .6% on a year-over-year basis. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given 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 dividend on an annualized basis and a dividend yield of 2.3%. Wells Fargo & Company's payout ratio is presently 30.82%.

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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