Cetera Advisors LLC Sells 4,812 Shares of Wells Fargo & Company (NYSE:WFC)

Cetera Advisors LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFCGet Rating) by 7.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,047 shares of the financial services provider’s stock after selling 4,812 shares during the period. Cetera Advisors LLC’s holdings in Wells Fargo & Company were worth $2,470,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Retirement Group LLC boosted its holdings in shares of Wells Fargo & Company by 6,250.0% during the 1st quarter. Retirement Group LLC now owns 635 shares of the financial services provider’s stock worth $31,000 after buying an additional 625 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $26,000. Destiny Wealth Partners LLC boosted its holdings in shares of Wells Fargo & Company by 716.0% during the 2nd quarter. Destiny Wealth Partners LLC now owns 767 shares of the financial services provider’s stock worth $30,000 after buying an additional 673 shares in the last quarter. Tortoise Investment Management LLC boosted its holdings in shares of Wells Fargo & Company by 100.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 800 shares of the financial services provider’s stock worth $31,000 after buying an additional 400 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC boosted its holdings in shares of Wells Fargo & Company by 371.3% during the 2nd quarter. Moisand Fitzgerald Tamayo LLC now owns 919 shares of the financial services provider’s stock worth $36,000 after buying an additional 724 shares in the last quarter. 72.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WFC shares. BMO Capital Markets increased their target price on Wells Fargo & Company from $61.00 to $63.00 and gave the stock a “market perform” rating in a report on Monday, October 17th. JPMorgan Chase & Co. increased their target price on Wells Fargo & Company from $46.50 to $49.50 in a report on Wednesday, November 2nd. The Goldman Sachs Group upgraded Wells Fargo & Company from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $48.00 in a report on Monday, October 3rd. Piper Sandler increased their target price on Wells Fargo & Company from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, October 17th. Finally, StockNews.com started coverage on Wells Fargo & Company in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.03.

Wells Fargo & Company Trading Up 0.6 %

Shares of Wells Fargo & Company stock opened at $47.11 on Wednesday. Wells Fargo & Company has a 1 year low of $36.54 and a 1 year high of $60.30. The firm has a market cap of $179.51 billion, a PE ratio of 12.24, a P/E/G ratio of 1.20 and a beta of 1.16. The stock has a fifty day moving average price of $44.16 and a 200-day moving average price of $43.20. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.82 and a quick ratio of 0.82.

Wells Fargo & Company (NYSE:WFCGet Rating) last announced its earnings results on Friday, October 14th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.24). Wells Fargo & Company had a net margin of 19.95% and a return on equity of 10.95%. The business had revenue of $19.51 billion for the quarter, compared to analysts’ expectations of $18.78 billion. During the same period in the prior year, the business earned $1.17 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post 3.81 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 4th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, November 3rd. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 31.17%.

Wells Fargo & Company Company Profile

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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