Intelligence Driven Advisers LLC Grows Holdings in Wells Fargo & Company $WFC

Intelligence Driven Advisers LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 48.6% during the second quarter, Holdings Channel.com reports. The firm owned 11,805 shares of the financial services provider’s stock after buying an additional 3,861 shares during the period. Intelligence Driven Advisers LLC’s holdings in Wells Fargo & Company were worth $946,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WFC. Brighton Jones LLC lifted its holdings in shares of Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after acquiring an additional 25,436 shares during the period. Silvercrest Asset Management Group LLC increased its holdings in shares of Wells Fargo & Company by 3.7% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 24,075 shares of the financial services provider’s stock valued at $1,691,000 after purchasing an additional 862 shares during the period. Strategic Wealth Partners Ltd. acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $188,000. Twinbeech Capital LP acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $2,693,000. Finally, Vivaldi Capital Management LP acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $209,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WFC. Citigroup reissued a “neutral” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Truist Financial raised their price target on Wells Fargo & Company from $83.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Evercore ISI reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Dbs Bank raised Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a report on Thursday, July 17th. Finally, Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.56.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $81.39 on Wednesday. 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 firm has a market cap of $260.73 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.27 and a beta of 1.25. The business’s fifty day moving average is $80.36 and its two-hundred day moving average is $75.20. Wells Fargo & Company has a 52 week low of $53.31 and a 52 week high of $84.83.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts forecast 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. Stockholders of record on Friday, August 8th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Wells Fargo & Company’s payout ratio is 30.82%.

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.