Wells Fargo & Company $WFC Position Boosted by Blue Barn Wealth LLC

Blue Barn Wealth LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 15.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,742 shares of the financial services provider’s stock after purchasing an additional 755 shares during the period. Blue Barn Wealth LLC’s holdings in Wells Fargo & Company were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Access Investment Management LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at about $25,000. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Wells Fargo & Company in the second quarter worth about $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after buying an additional 322 shares during the period. Accent Capital Management LLC acquired a new position in shares of Wells Fargo & Company in the first quarter worth about $29,000. Finally, Motco boosted its holdings in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after buying an additional 326 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the subject of several recent analyst reports. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Citigroup raised their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Morgan Stanley raised their target price on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Evercore ISI raised their target price on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Finally, UBS Group decreased their target price on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Stock Performance

WFC stock opened at $87.06 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $278.89 billion, a P/E ratio of 14.32, a P/E/G ratio of 1.18 and a beta of 1.22. The firm has a 50 day simple moving average of $83.00 and a 200 day simple moving average of $79.01. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $88.50.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.55 by $0.11. The business had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company posted $1.42 earnings per share. Research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.61%.

Wells Fargo & Company 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.