Vise Technologies Inc. Purchases Shares of 76,938 Wells Fargo & Company $WFC

Vise Technologies Inc. acquired a new position in Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, Holdings Channel reports. The firm acquired 76,938 shares of the financial services provider’s stock, valued at approximately $6,164,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Accretive Wealth Partners LLC purchased a new stake in Wells Fargo & Company in the first quarter worth about $399,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Wells Fargo & Company by 10.4% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock valued at $54,471,000 after buying an additional 71,740 shares in the last quarter. Secured Retirement Advisors LLC bought a new position in shares of Wells Fargo & Company during the 1st quarter valued at approximately $408,000. Three Bridge Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $364,000. Finally, Allianz SE increased its holdings in Wells Fargo & Company by 22.6% in the 1st quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock worth $15,244,000 after acquiring an additional 39,150 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.0%

WFC opened at $86.05 on Monday. The firm has a 50-day simple moving average of $83.25 and a two-hundred day simple moving average of $79.44. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $88.50. The company has a market capitalization of $270.11 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

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

Wells Fargo & Company Announces Dividend

The company also recently disclosed 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 annualized dividend 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 is 29.61%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Truist Financial upped their target price on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Citigroup increased their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Finally, Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.