Peoples Financial Services CORP. Has $941,000 Stock Holdings in Wells Fargo & Company $WFC

Peoples Financial Services CORP. decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,739 shares of the financial services provider’s stock after selling 611 shares during the period. Peoples Financial Services CORP.’s holdings in Wells Fargo & Company were worth $941,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC raised its holdings in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after buying an additional 322 shares during the last quarter. Accent Capital Management LLC acquired a new position in Wells Fargo & Company during the first quarter worth $29,000. Motco raised its holdings in 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 buying an additional 326 shares during the last quarter. Nova Wealth Management Inc. raised its holdings in Wells Fargo & Company by 112.9% during the second quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock worth $34,000 after buying an additional 227 shares during the last quarter. Finally, 1248 Management LLC acquired a new position in Wells Fargo & Company during the first quarter worth $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $85.01 on Monday. Wells Fargo & Company has a 52-week low of $54.40 and a 52-week high of $86.65. The company has a 50-day simple moving average of $80.84 and a 200 day simple moving average of $75.97. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $272.32 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.33 earnings per share. On average, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a dividend of $0.45 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 30.82%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WFC. The Goldman Sachs Group lowered their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Truist Financial increased their target price on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Bank of America increased their target price on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Wall Street Zen downgraded shares of Wells Fargo & Company from a “hold” rating to a “sell” rating in a report on Friday. Finally, Evercore ISI reiterated an “outperform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.97.

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.