19,875 Wells Fargo & Company $WFC Shares Purchased by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC increased its position in Wells Fargo & Company (NYSE:WFC) by 14,722.2% in the third quarter, HoldingsChannel.com reports. The fund owned 20,010 shares of the financial services provider’s stock after buying an additional 19,875 shares during the period. Provenance Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $1,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Associated Banc Corp purchased a new stake in Wells Fargo & Company in the third quarter valued at approximately $4,276,000. Putney Financial Group LLC acquired a new position in Wells Fargo & Company in the 3rd quarter worth approximately $40,000. Integrity Alliance LLC. increased its holdings in Wells Fargo & Company by 6.6% in the 3rd quarter. Integrity Alliance LLC. now owns 13,686 shares of the financial services provider’s stock worth $1,096,000 after buying an additional 844 shares during the period. Integrity Advisory Solutions LLC increased its holdings in Wells Fargo & Company by 20.5% in the 3rd quarter. Integrity Advisory Solutions LLC now owns 3,782 shares of the financial services provider’s stock worth $303,000 after buying an additional 643 shares during the period. Finally, Mountain Pacific Investment Advisers LLC increased its holdings in Wells Fargo & Company by 1.5% in the 3rd quarter. Mountain Pacific Investment Advisers LLC now owns 12,562 shares of the financial services provider’s stock worth $1,006,000 after buying an additional 184 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.5%

Shares of WFC opened at $85.50 on Wednesday. The company has a market capitalization of $256.66 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.92 and a beta of 0.93. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. The stock’s 50-day moving average price is $84.38 and its 200-day moving average price is $83.64. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.02. The company had revenue of $21.87 billion during the quarter, compared to analysts’ expectations of $22.30 billion. Wells Fargo & Company had a return on equity of 14.05% and a net margin of 17.64%. Wells Fargo & Company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the business earned $1.66 earnings per share. On average, sell-side analysts predict that Wells Fargo & Company will post 7.27 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, November 6th. Wells Fargo & Company’s dividend payout ratio is currently 28.21%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent research reports. UBS Group reduced their price target on shares of Wells Fargo & Company from $104.00 to $102.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Keefe, Bruyette & Woods dropped their price objective on shares of Wells Fargo & Company from $94.00 to $90.00 and set a “market perform” rating on the stock in a report on Wednesday, October 14th. The Goldman Sachs Group set a $94.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, October 13th. Morgan Stanley reduced their target price on shares of Wells Fargo & Company from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Wednesday, October 14th. Finally, Truist Financial raised their target price on shares of Wells Fargo & Company from $94.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.11.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.