Strategic Blueprint LLC Buys 3,121 Shares of Wells Fargo & Company $WFC

Strategic Blueprint LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 55.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,749 shares of the financial services provider’s stock after purchasing an additional 3,121 shares during the period. Strategic Blueprint LLC’s holdings in Wells Fargo & Company were worth $701,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WFC. CBIZ Investment Advisory Services LLC lifted its stake in Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in Wells Fargo & Company in the 2nd quarter valued at approximately $27,000. Motco lifted its stake in Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares during the last quarter. Accent Capital Management LLC bought a new position in Wells Fargo & Company in the 1st quarter valued at approximately $29,000. Finally, 1248 Management LLC bought a new position in Wells Fargo & Company in the 1st quarter valued at approximately $31,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Bank of America increased their price objective on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Piper Sandler reaffirmed an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 15th. Finally, Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $86.35 on Friday. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47. The firm has a fifty day simple moving average of $81.89 and a 200 day simple moving average of $77.72. The company has a market capitalization of $276.61 billion, a PE ratio of 14.20, a P/E/G ratio of 1.19 and a beta of 1.25. 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 announced its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping 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 business had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same quarter last year, the firm earned $1.42 earnings per share. Wells Fargo & Company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company 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 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s payout ratio is 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.