LRI Investments LLC Acquires 966 Shares of Wells Fargo & Company $WFC

LRI Investments LLC lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 14.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,656 shares of the financial services provider’s stock after acquiring an additional 966 shares during the period. LRI Investments LLC’s holdings in Wells Fargo & Company were worth $613,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC increased its position in shares of Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in Wells Fargo & Company during the second quarter worth $27,000. Motco boosted its stake in Wells Fargo & Company by 397.6% during 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. Accent Capital Management LLC bought a new position in Wells Fargo & Company during the first quarter valued at $29,000. Finally, 1248 Management LLC purchased a new stake in shares of Wells Fargo & Company in the first quarter valued at $31,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Down 2.7%

Shares of Wells Fargo & Company stock opened at $77.74 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $86.65. The firm’s 50-day moving average is $80.63 and its two-hundred day moving average is $76.53. The stock has a market cap of $249.04 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.25 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the previous year, the business posted $1.33 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share 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 paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s payout ratio is presently 30.82%.

Wall Street Analyst Weigh In

A number of research firms recently commented on WFC. Truist Financial lifted their price target on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. UBS Group dropped 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. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Cowen restated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.41.

About Wells Fargo & Company

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.