Wells Fargo & Company $WFC Shares Purchased by Archford Capital Strategies LLC

Key Points

• Archford Capital Strategies LLC increased its holdings in Wells Fargo by 39.5%, owning 25,992 shares worth approximately $2.08 million after acquiring 7,361 additional shares in Q2.
• Wells Fargo recently declared a quarterly dividend increase from $0.40 to $0.45, representing a yield of 2.1% and a payout ratio of 30.82%.
• Analysts have mixed views on Wells Fargo, with Truist Financial raising its price target to $88.00 while Wall Street Zen downgraded its rating to "sell".

Archford Capital Strategies LLC raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 39.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,992 shares of the financial services provider's stock after acquiring an additional 7,361 shares during the period. Archford Capital Strategies LLC's holdings in Wells Fargo & Company were worth $2,082,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Management Partners LLC grew its position in 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 valued at $313,000 after buying an additional 128 shares in the last quarter. Verum Partners LLC lifted its stake in shares of Wells Fargo & Company by 1.8% in the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider's stock worth $582,000 after acquiring an additional 128 shares during the period. Motive Wealth Advisors boosted its holdings in shares of 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 valued at $293,000 after acquiring an additional 129 shares in the last quarter. Lynch & Associates IN boosted its holdings in shares of Wells Fargo & Company by 2.0% in the second quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider's stock valued at $539,000 after acquiring an additional 135 shares in the last quarter. Finally, Financial Management Professionals Inc. increased its stake in shares of Wells Fargo & Company by 19.3% during the second quarter. Financial Management Professionals Inc. now owns 854 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 138 shares during the period. Institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WFC. Truist Financial increased their price target on Wells Fargo & Company from $86.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Wall Street Zen cut Wells Fargo & Company from a "hold" rating to a "sell" rating in a research note on Friday. Phillip Securities lowered Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. Bank of America upped their price target on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Finally, Citigroup raised their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Tuesday, September 23rd. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $82.97.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $85.01 on Monday. 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 firm has a 50 day simple moving average of $80.84 and a 200 day simple moving average of $75.97. Wells Fargo & Company has a fifty-two week low of $54.40 and a fifty-two week high of $86.65. The firm has a market cap of $272.32 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.31 and a beta of 1.25.

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 (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 return on equity of 12.29% and a net margin of 16.82%.The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 EPS. Sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared 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 positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company's dividend payout ratio (DPR) is 30.82%.

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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