Wells Fargo & Company $WFC Stock Holdings Trimmed by Cooper Financial Group

Cooper Financial Group lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 16.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,624 shares of the financial services provider’s stock after selling 1,273 shares during the period. Cooper Financial Group’s holdings in Wells Fargo & Company were worth $531,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of WFC. Brighton Jones LLC raised its stake in shares of Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after buying an additional 25,436 shares in the last quarter. Merit Financial Group LLC raised its stake in shares of Wells Fargo & Company by 10.0% in the 1st quarter. Merit Financial Group LLC now owns 105,475 shares of the financial services provider’s stock worth $7,572,000 after buying an additional 9,552 shares in the last quarter. RFG Advisory LLC raised its stake in shares of Wells Fargo & Company by 13.4% in the 1st quarter. RFG Advisory LLC now owns 41,879 shares of the financial services provider’s stock worth $3,006,000 after buying an additional 4,944 shares in the last quarter. Apella Capital LLC raised its stake in shares of Wells Fargo & Company by 12.6% in the 1st quarter. Apella Capital LLC now owns 31,011 shares of the financial services provider’s stock worth $2,057,000 after buying an additional 3,474 shares in the last quarter. Finally, Northside Capital Management LLC raised its stake in shares of Wells Fargo & Company by 1.5% in the 1st quarter. Northside Capital Management LLC now owns 27,530 shares of the financial services provider’s stock worth $1,976,000 after buying an additional 403 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup boosted their price objective on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Morgan Stanley cut Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $87.00 to $90.00 in a report on Monday. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Truist Financial lifted their target price on Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Wall Street Zen cut Wells Fargo & Company from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.74.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $80.94 on Thursday. Wells Fargo & Company has a 1-year low of $54.40 and a 1-year high of $86.65. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $259.28 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 1.29 and a beta of 1.25. The stock’s fifty day simple moving average is $80.91 and its 200-day simple moving average is $76.15.

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 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 return on equity of 12.29% and a net margin of 16.82%.The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.33 earnings per share. On average, sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were given a dividend of $0.45 per share. 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 yield of 2.2%. Wells Fargo & Company’s payout ratio is 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.