Fragasso Financial Advisors Inc Has $1.16 Million Holdings in Wells Fargo & Company $WFC

Fragasso Financial Advisors Inc raised its holdings in Wells Fargo & Company (NYSE:WFC) by 2.2% in the second quarter, Holdings Channel reports. The fund owned 14,413 shares of the financial services provider’s stock after acquiring an additional 312 shares during the period. Fragasso Financial Advisors Inc’s holdings in Wells Fargo & Company were worth $1,155,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Summit Wealth & Retirement Planning Inc. grew its stake in Wells Fargo & Company by 4.3% in the first quarter. Summit Wealth & Retirement Planning Inc. now owns 3,362 shares of the financial services provider’s stock valued at $241,000 after acquiring an additional 139 shares during the period. Nwam LLC boosted its position in shares of Wells Fargo & Company by 1.6% during the first quarter. Nwam LLC now owns 8,806 shares of the financial services provider’s stock worth $632,000 after buying an additional 142 shares during the period. PGIM Custom Harvest LLC boosted its position in shares of Wells Fargo & Company by 3.5% during the first quarter. PGIM Custom Harvest LLC now owns 4,225 shares of the financial services provider’s stock worth $303,000 after buying an additional 142 shares during the period. Tradition Wealth Management LLC boosted its position in shares of Wells Fargo & Company by 0.5% during the first quarter. Tradition Wealth Management LLC now owns 30,420 shares of the financial services provider’s stock worth $2,184,000 after buying an additional 143 shares during the period. Finally, Retirement Planning Co of New England Inc. boosted its position in shares of Wells Fargo & Company by 0.8% during the first quarter. Retirement Planning Co of New England Inc. now owns 18,434 shares of the financial services provider’s stock worth $1,323,000 after buying an additional 144 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

WFC opened at $81.47 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The business’s 50-day simple moving average is $80.37 and its 200 day simple moving average is $75.16. The firm has a market capitalization of $260.98 billion, a PE ratio of 13.95, a PEG ratio of 1.27 and a beta of 1.25. Wells Fargo & Company has a 52-week low of $52.81 and a 52-week high of $84.83.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.13. The firm had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.33 earnings per share. As a group, sell-side 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. Shareholders of record on Friday, August 8th were paid a $0.45 dividend. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend 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%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Dbs Bank raised Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Bank of America upped their price objective on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. The Goldman Sachs Group dropped their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Finally, Evercore ISI reiterated an “outperform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.56.

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.