Wells Fargo & Company $WFC Stock Holdings Trimmed by Lodestar Private Asset Management LLC

Key Points

• Lodestar Private Asset Management LLC has reduced its holdings in Wells Fargo by 28.1%, now owning 14,806 shares valued at $1,186,000.
• Multiple large investors have recently modified their positions in Wells Fargo, with Brighton Jones LLC increasing its stake by 62.3% in the last quarter.
• Wells Fargo raised its quarterly dividend from $0.40 to $0.45, resulting in a 2.3% dividend yield for the year.

Lodestar Private Asset Management LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 28.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,806 shares of the financial services provider's stock after selling 5,797 shares during the quarter. Lodestar Private Asset Management LLC's holdings in Wells Fargo & Company were worth $1,186,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider's stock valued at $4,652,000 after acquiring an additional 25,436 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Wells Fargo & Company by 296.5% during the first quarter. Harbor Capital Advisors Inc. now owns 686 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 513 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Wells Fargo & Company by 11.3% during the first quarter. GAMMA Investing LLC now owns 47,264 shares of the financial services provider's stock worth $3,393,000 after purchasing an additional 4,786 shares during the period. West Branch Capital LLC raised its holdings in shares of Wells Fargo & Company by 28.5% during the first quarter. West Branch Capital LLC now owns 22,091 shares of the financial services provider's stock worth $1,586,000 after purchasing an additional 4,904 shares during the period. Finally, Elevation Point Wealth Partners LLC lifted its position in shares of Wells Fargo & Company by 16.3% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 33,210 shares of the financial services provider's stock worth $2,384,000 after buying an additional 4,643 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WFC. UBS Group decreased their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a "buy" rating for the company in a report on Tuesday, October 7th. Truist Financial lifted their target price 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. Piper Sandler reaffirmed an "overweight" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Phillip Securities downgraded Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. Finally, Raymond James Financial lowered Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 7th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.41.

Wells Fargo & Company Trading Down 2.7%

NYSE:WFC opened at $77.74 on Friday. The stock has a market cap of $249.04 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.25 and a beta of 1.25. 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 1 year low of $58.42 and a 1 year high of $86.65. The business has a fifty day moving average of $80.63 and a 200-day moving average of $76.53.

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 analysts' consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion for the quarter, compared to analysts' expectations 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 was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 earnings per share. Equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. Wells Fargo & Company's payout ratio 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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