Werba Rubin Papier Wealth Management Acquires Shares of 2,638 Wells Fargo & Company $WFC

Werba Rubin Papier Wealth Management acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,638 shares of the financial services provider’s stock, valued at approximately $211,000.

Other hedge funds have also bought and sold shares of the company. CBIZ Investment Advisory Services LLC increased its position in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Wells Fargo & Company during the second quarter valued at $27,000. Motco boosted its stake in shares of Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares during the period. Accent Capital Management LLC purchased a new stake in shares of Wells Fargo & Company during the first quarter valued at $29,000. Finally, 1248 Management LLC purchased a new stake in shares of Wells Fargo & Company during the first quarter valued at $31,000. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WFC. UBS Group lowered their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Truist Financial boosted their target price on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays boosted their target price on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Dbs Bank raised shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Stock Down 2.9%

NYSE:WFC opened at $83.97 on Friday. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $87.47. The company has a 50-day moving average of $81.10 and a 200 day moving average of $76.82. The firm has a market cap of $268.99 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.39 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.83.

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 for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS 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. Investors of record on Friday, August 8th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s payout ratio 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.