R Squared Ltd Acquires Shares of 4,927 Wells Fargo & Company $WFC

R Squared Ltd acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to its most recent filing with the SEC. The firm acquired 4,927 shares of the financial services provider’s stock, valued at approximately $395,000.

A number of other hedge funds have also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC boosted 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 last quarter. McElhenny Sheffield Capital Management LLC bought a new position in shares of Wells Fargo & Company in the 2nd quarter worth $27,000. Motco boosted its position in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 326 shares during the last quarter. Accent Capital Management LLC bought a new position in shares of Wells Fargo & Company in the 1st quarter worth $29,000. Finally, 1248 Management LLC bought a new position in shares of Wells Fargo & Company in the 1st quarter worth $31,000. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on WFC shares. Morgan Stanley raised their price target 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. Evercore ISI raised their price target on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Truist Financial raised their price target on Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Bank of America raised their price target on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, TD Cowen raised their price target on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Eleven investment 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 company has an average rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Stock Performance

WFC opened at $86.35 on Friday. The business’s 50-day moving average price is $81.89 and its two-hundred day moving average price is $77.61. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $87.47. The company has a market capitalization of $276.61 billion, a price-to-earnings ratio of 14.20, a P/E/G ratio of 1.16 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 0.84.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same quarter last year, the business posted $1.42 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is 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.