Freemont Management S.A. Purchases 8,700 Shares of Wells Fargo & Company $WFC

Freemont Management S.A. boosted its position in Wells Fargo & Company (NYSE:WFC) by 30.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,100 shares of the financial services provider’s stock after buying an additional 8,700 shares during the quarter. Freemont Management S.A.’s holdings in Wells Fargo & Company were worth $2,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Wealth Management Partners LLC increased its holdings in Wells Fargo & Company by 3.5% in the 2nd 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 last quarter. Verum Partners LLC lifted its holdings in Wells Fargo & Company by 1.8% during the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock valued at $582,000 after purchasing an additional 128 shares during the last quarter. Motive Wealth Advisors lifted its holdings in Wells Fargo & Company by 3.7% during the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock valued at $293,000 after purchasing an additional 129 shares during the last quarter. Exencial Wealth Advisors LLC boosted its position in Wells Fargo & Company by 0.7% during the second quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider’s stock worth $1,443,000 after purchasing an additional 131 shares during the period. Finally, Yukon Wealth Management Inc. increased its stake in shares of 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 purchasing an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.0%

Wells Fargo & Company stock opened at $86.05 on Friday. The stock has a market cap of $270.11 billion, a P/E ratio of 14.15, a PEG ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $88.50. The firm’s fifty day moving average price is $83.25 and its 200-day moving average price is $79.27. 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 data 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 company had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. During the same quarter last year, the company earned $1.42 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given 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 is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.61%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Keefe, Bruyette & Woods boosted 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 report on Wednesday, October 15th. Morgan Stanley increased 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. UBS Group cut their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Finally, Truist Financial boosted their price objective on Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.57.

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.