Wells Fargo & Company $WFC Shares Acquired by JFS Wealth Advisors LLC

JFS Wealth Advisors LLC increased its holdings in Wells Fargo & Company (NYSE:WFC) by 2.3% during the second quarter, HoldingsChannel.com reports. The fund owned 10,856 shares of the financial services provider’s stock after buying an additional 240 shares during the period. JFS Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. First Fiduciary Investment Counsel Inc. increased its holdings in shares of Wells Fargo & Company by 51.0% in the 2nd quarter. First Fiduciary Investment Counsel Inc. now owns 10,070 shares of the financial services provider’s stock valued at $807,000 after acquiring an additional 3,400 shares during the period. Greenwood Gearhart Inc. increased its stake in Wells Fargo & Company by 240.9% in the 2nd quarter. Greenwood Gearhart Inc. now owns 12,239 shares of the financial services provider’s stock valued at $981,000 after buying an additional 8,649 shares during the period. PDS Planning Inc increased its stake in Wells Fargo & Company by 7.4% in the 2nd quarter. PDS Planning Inc now owns 12,750 shares of the financial services provider’s stock valued at $1,022,000 after buying an additional 880 shares during the period. Monument Capital Management increased its stake in Wells Fargo & Company by 1.4% in the 2nd quarter. Monument Capital Management now owns 10,099 shares of the financial services provider’s stock valued at $809,000 after buying an additional 137 shares during the period. Finally, Cyndeo Wealth Partners LLC increased its stake in Wells Fargo & Company by 2.3% in the 2nd quarter. Cyndeo Wealth Partners LLC now owns 14,089 shares of the financial services provider’s stock valued at $1,129,000 after buying an additional 322 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $77.74 on Friday. The firm has a market capitalization of $249.04 billion, a P/E ratio of 13.31, a PEG ratio of 1.25 and a beta of 1.25. Wells Fargo & Company has a one year low of $58.42 and a one year high of $86.65. The company’s fifty day moving average is $80.63 and its two-hundred day moving average is $76.53. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $20.83 billion. During the same period in the previous year, the firm earned $1.33 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts forecast 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 given a $0.45 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s payout ratio is presently 30.82%.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent research reports. Raymond James Financial cut shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Truist Financial boosted their price objective on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group dropped their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.