Quent Capital LLC Has $1.11 Million Position in Wells Fargo & Company $WFC

Quent Capital LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,845 shares of the financial services provider’s stock after purchasing an additional 805 shares during the quarter. Quent Capital LLC’s holdings in Wells Fargo & Company were worth $1,109,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Accretive Wealth Partners LLC acquired a new stake in Wells Fargo & Company during the 1st quarter valued at $399,000. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Wells Fargo & Company by 10.4% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock valued at $54,471,000 after purchasing an additional 71,740 shares during the period. Secured Retirement Advisors LLC acquired a new stake in Wells Fargo & Company during the 1st quarter valued at $408,000. RKL Wealth Management LLC raised its stake in Wells Fargo & Company by 166.4% during the 1st quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 5,113 shares during the period. Finally, Allianz SE raised its stake in Wells Fargo & Company by 22.6% during the 1st quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock valued at $15,244,000 after purchasing an additional 39,150 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WFC shares. Dbs Bank raised shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Truist Financial boosted their price target on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Evercore ISI boosted their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Wells Fargo & Company in a report on Saturday, September 27th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and an average target price of $83.74.

Wells Fargo & Company Trading Up 0.2%

Shares of NYSE:WFC opened at $80.63 on Friday. The stock has a market capitalization of $258.28 billion, a PE ratio of 13.81, a P/E/G ratio of 1.24 and a beta of 1.25. Wells Fargo & Company has a 1 year low of $55.98 and a 1 year high of $86.65. The firm has a fifty day moving average price of $80.77 and a 200 day moving average price of $76.28. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. The firm had revenue of $20.82 billion during 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%. Wells Fargo & Company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a $0.45 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is currently 30.82%.

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.