Wells Fargo & Company $WFC Stock Holdings Lessened by Beacon Financial Group

Beacon Financial Group lessened its position in Wells Fargo & Company (NYSE:WFC) by 5.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,005 shares of the financial services provider's stock after selling 5,435 shares during the period. Beacon Financial Group's holdings in Wells Fargo & Company were worth $7,211,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CBIZ Investment Advisory Services LLC increased its holdings in shares of Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock worth $27,000 after acquiring an additional 322 shares during the period. Accent Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the 1st quarter worth about $29,000. Motco increased its holdings in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider's stock worth $29,000 after acquiring an additional 326 shares during the period. Nova Wealth Management Inc. increased its holdings in shares of Wells Fargo & Company by 112.9% in the 2nd quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider's stock worth $34,000 after acquiring an additional 227 shares during the period. Finally, 1248 Management LLC acquired a new stake in shares of Wells Fargo & Company in the 1st quarter worth about $31,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Bank of America increased their target price on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Piper Sandler reiterated an "overweight" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Cowen reissued a "hold" rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. The Goldman Sachs Group dropped their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Finally, Citigroup reissued a "neutral" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.56.

Wells Fargo & Company Price Performance

Shares of WFC opened at $81.47 on Tuesday. The firm has a market cap of $260.98 billion, a PE ratio of 13.95, a PEG ratio of 1.27 and a beta of 1.25. The firm's 50 day moving average price is $80.37 and its 200 day moving average price is $75.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a twelve month low of $52.81 and a twelve month high of $84.83.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.13. The firm had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.33 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 8th. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company's payout ratio is 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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