Telos Capital Management Inc. Purchases 789 Shares of Wells Fargo & Company $WFC

Telos Capital Management Inc. lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,105 shares of the financial services provider’s stock after purchasing an additional 789 shares during the period. Telos Capital Management Inc.’s holdings in Wells Fargo & Company were worth $1,130,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Wealth Management Partners LLC raised its position in Wells Fargo & Company by 3.5% in the second quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after acquiring an additional 128 shares during the period. Verum Partners LLC raised its position in Wells Fargo & Company by 1.8% in the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after acquiring an additional 128 shares during the period. Motive Wealth Advisors raised its position in Wells Fargo & Company by 3.7% in the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 129 shares during the period. Exencial Wealth Advisors LLC raised its position in Wells Fargo & Company by 0.7% in the second quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider’s stock worth $1,443,000 after acquiring an additional 131 shares during the period. Finally, Yukon Wealth Management Inc. raised its position in Wells Fargo & Company by 4.3% in the second quarter. Yukon Wealth Management Inc. now owns 3,179 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 132 shares during the period. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on WFC shares. Citigroup lifted their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Barclays lifted their price objective on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Bank of America lifted their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Finally, Phillip Securities downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $87.19 on Monday. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $87.47. The stock has a market capitalization of $279.30 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25. The company has a fifty day moving average of $82.75 and a 200-day moving average of $78.69. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84.

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

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.61%.

Wells Fargo & 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.