Knights of Columbus Asset Advisors LLC Acquires 7,451 Shares of Wells Fargo & Company $WFC

Knights of Columbus Asset Advisors LLC raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 196,015 shares of the financial services provider’s stock after purchasing an additional 7,451 shares during the period. Wells Fargo & Company accounts for approximately 1.0% of Knights of Columbus Asset Advisors LLC’s investment portfolio, making the stock its 18th biggest position. Knights of Columbus Asset Advisors LLC’s holdings in Wells Fargo & Company were worth $15,705,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CBIZ Investment Advisory Services LLC lifted its position in shares of Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the period. Accent Capital Management LLC bought a new position in Wells Fargo & Company during the first quarter worth $29,000. Motco raised its stake in Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after buying an additional 326 shares during the last quarter. Nova Wealth Management Inc. lifted its holdings in Wells Fargo & Company by 112.9% in the second quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock valued at $34,000 after buying an additional 227 shares during the period. Finally, 1248 Management LLC bought a new stake in Wells Fargo & Company during the first quarter valued at $31,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $80.63 on Monday. The company has a market cap of $258.28 billion, a P/E ratio of 13.81, a PEG ratio of 1.24 and a beta of 1.25. The company has a fifty day simple moving average of $80.77 and a 200 day simple moving average of $76.33. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 12-month low of $55.98 and a 12-month high of $86.65.

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 for the quarter, beating analysts’ consensus estimates 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 net margin of 16.82% and a return on equity of 12.29%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned $1.33 earnings per share. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio is presently 30.82%.

Wall Street Analyst Weigh In

WFC has been the topic of several research analyst reports. Evercore ISI upped their target price on Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Raymond James Financial cut Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Phillip Securities lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Finally, Truist Financial raised their price target on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.74.

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.