Wells Fargo & Company $WFC Shares Purchased by Wealth Science Advisors LLC

Wealth Science Advisors LLC grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 131.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,993 shares of the financial services provider’s stock after buying an additional 6,814 shares during the period. Wealth Science Advisors LLC’s holdings in Wells Fargo & Company were worth $991,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in WFC. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Wells Fargo & Company by 19.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider’s stock valued at $49,610,000 after buying an additional 84,902 shares during the last quarter. Swiss Life Asset Management Ltd lifted its stake in shares of Wells Fargo & Company by 4.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider’s stock valued at $32,673,000 after buying an additional 14,168 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in Wells Fargo & Company by 4.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider’s stock worth $38,446,000 after acquiring an additional 17,302 shares during the last quarter. Norges Bank acquired a new stake in Wells Fargo & Company during the fourth quarter worth approximately $4,512,563,000. Finally, Winning Points Advisors LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $3,384,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $87.25 on Friday. The firm has a market capitalization of $263.86 billion, a P/E ratio of 12.68, a P/E/G ratio of 0.95 and a beta of 0.92. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. The business’s 50-day simple moving average is $84.90 and its 200-day simple moving average is $83.06.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. The firm had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. Equities analysts predict that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be paid a dividend of $0.50 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, August 7th. Wells Fargo & Company’s payout ratio is presently 26.16%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Raymond James Financial reiterated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. JPMorgan Chase & Co. raised their price objective on Wells Fargo & Company from $93.50 to $95.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Finally, Truist Financial upped their target price on Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average price target of $98.61.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.