Clarendon Private LLC Has $1.20 Million Stock Holdings in Wells Fargo & Company $WFC

Clarendon Private LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 12.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,972 shares of the financial services provider’s stock after purchasing an additional 1,703 shares during the quarter. Wells Fargo & Company makes up about 1.2% of Clarendon Private LLC’s portfolio, making the stock its 20th largest holding. Clarendon Private LLC’s holdings in Wells Fargo & Company were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. McElhenny Sheffield Capital Management LLC acquired a new position in Wells Fargo & Company during the 2nd quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC increased its position in Wells Fargo & Company by 585.5% during 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 in the last quarter. Accent Capital Management LLC acquired a new position in Wells Fargo & Company during the 1st quarter worth approximately $29,000. Motco increased its position in Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 326 shares in the last quarter. Finally, Nova Wealth Management Inc. increased its position in Wells Fargo & Company by 112.9% during the 2nd quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 227 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Phillip Securities lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Piper Sandler reissued an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Citigroup boosted their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Finally, Morgan Stanley lowered shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $87.00 to $90.00 in a report on Monday, September 29th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $85.41.

Wells Fargo & Company Trading Down 2.7%

NYSE:WFC opened at $77.74 on Friday. The firm has a market cap of $249.04 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.25 and a beta of 1.25. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $86.65. The firm’s fifty day moving average is $80.63 and its 200-day moving average is $76.53. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.13. The business had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 earnings per share. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid 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 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s payout ratio is currently 30.82%.

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.