Clarius Group LLC Sells 2,311 Shares of Wells Fargo & Company $WFC

Clarius Group LLC decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 12.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 16,566 shares of the financial services provider’s stock after selling 2,311 shares during the quarter. Clarius Group LLC’s holdings in Wells Fargo & Company were worth $1,327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFC. Brighton Jones LLC raised its stake in Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after buying an additional 25,436 shares during the period. Vest Financial LLC raised its stake in Wells Fargo & Company by 73.5% in the first quarter. Vest Financial LLC now owns 27,256 shares of the financial services provider’s stock valued at $1,957,000 after buying an additional 11,547 shares during the period. Signal Advisors Wealth LLC raised its stake in Wells Fargo & Company by 19.3% in the first quarter. Signal Advisors Wealth LLC now owns 5,871 shares of the financial services provider’s stock valued at $421,000 after buying an additional 950 shares during the period. Procyon Advisors LLC raised its stake in Wells Fargo & Company by 2.8% in the first quarter. Procyon Advisors LLC now owns 6,823 shares of the financial services provider’s stock valued at $490,000 after buying an additional 184 shares during the period. Finally, Elk River Wealth Management LLC bought a new stake in Wells Fargo & Company in the first quarter valued at approximately $201,000. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the topic of several research reports. Raymond James Financial downgraded Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Piper Sandler reaffirmed an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Truist Financial upped their target price on Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wells Fargo & Company in a research report on Saturday, September 27th. Finally, Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.74.

Wells Fargo & Company Trading Up 0.2%

Shares of NYSE:WFC opened at $80.63 on Friday. The company has a market capitalization of $258.28 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.24 and a beta of 1.25. Wells Fargo & Company has a 1 year low of $55.98 and a 1 year high of $86.65. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The business’s 50 day simple moving average is $80.77 and its 200 day simple moving average is $76.31.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.33 earnings per share. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared 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. This is an increase 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%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 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.