Canvas Wealth Advisors LLC Makes New $258,000 Investment in Wells Fargo & Company $WFC

Canvas Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the second quarter, HoldingsChannel reports. The institutional investor bought 3,109 shares of the financial services provider’s stock, valued at approximately $258,000.

Several other institutional investors also recently modified their holdings of the business. CBIZ Investment Advisory Services LLC grew its holdings in Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter worth $27,000. Motco grew 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 worth $29,000 after purchasing an additional 326 shares during the period. Accent Capital Management LLC bought a new stake in Wells Fargo & Company in the first quarter valued at about $29,000. Finally, 1248 Management LLC acquired a new position in Wells Fargo & Company in the first quarter valued at about $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WFC shares. Morgan Stanley boosted their target price on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. 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. Keefe, Bruyette & Woods upped their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, October 15th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Finally, Barclays boosted their price target on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $85.97 on Tuesday. The firm has a market cap of $275.39 billion, a P/E ratio of 14.14, a PEG ratio of 1.15 and a beta of 1.25. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The firm’s 50 day moving average price is $81.38 and its two-hundred day moving average price is $77.19.

Wells Fargo & Company Increases Dividend

The business also recently announced 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%. The ex-dividend date of this dividend was Friday, August 8th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.61%.

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.