Forum Financial Management LP lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,724 shares of the financial services provider's stock after buying an additional 3,407 shares during the period. Forum Financial Management LP's holdings in Wells Fargo & Company were worth $1,638,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company during the 2nd quarter worth $26,000. Csenge Advisory Group grew its holdings in shares of Wells Fargo & Company by 3.3% in the 3rd quarter. Csenge Advisory Group now owns 21,920 shares of the financial services provider's stock worth $882,000 after purchasing an additional 700 shares during the last quarter. Chiron Capital Management LLC bought a new position in shares of Wells Fargo & Company in the 2nd quarter valued at about $681,000. Main Street Financial Solutions LLC raised its holdings in Wells Fargo & Company by 9.4% during the 2nd quarter. Main Street Financial Solutions LLC now owns 6,020 shares of the financial services provider's stock worth $236,000 after buying an additional 516 shares during the period. Finally, Tranquilli Financial Advisor LLC raised its holdings in shares of Wells Fargo & Company by 15.3% in the second quarter. Tranquilli Financial Advisor LLC now owns 5,907 shares of the financial services provider's stock valued at $231,000 after purchasing an additional 784 shares during the last quarter. 72.24% of the stock is owned by hedge funds and other institutional investors.
Get Wells Fargo & Company alerts:Wells Fargo & Company Stock Up 0.7 %
Wells Fargo & Company stock traded up $0.30 during trading hours on Friday, reaching $46.11. The stock had a trading volume of 4,777,674 shares, compared to its average volume of 19,037,820. Wells Fargo & Company has a 52 week low of $36.54 and a 52 week high of $60.30. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $175.70 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 0.91 and a beta of 1.18. The business's 50 day moving average price is $43.57 and its 200-day moving average price is $43.71.
Wells Fargo & Company (NYSE:WFC – Get Rating) last issued its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.04. The firm had revenue of $19.66 billion during the quarter, compared to the consensus estimate of $20.04 billion. Wells Fargo & Company had a return on equity of 9.28% and a net margin of 15.91%. The company's quarterly revenue was down 5.7% on a year-over-year basis. During the same period last year, the company earned $1.38 EPS. Sell-side analysts anticipate that Wells Fargo & Company will post 4.86 EPS for the current year.Wells Fargo & Company Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Friday, February 3rd will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, February 2nd. This represents a $1.20 annualized dividend and a yield of 2.60%. Wells Fargo & Company's dividend payout ratio is presently 38.22%.
Wall Street Analysts Forecast Growth
WFC has been the subject of several research analyst reports. Piper Sandler downgraded Wells Fargo & Company from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $49.00 to $47.00 in a research note on Tuesday, January 17th. The Goldman Sachs Group raised shares of Wells Fargo & Company from a "neutral" rating to a "buy" rating and increased their price objective for the company from $46.00 to $48.00 in a research report on Monday, October 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Wells Fargo & Company from $46.50 to $49.50 in a research note on Wednesday, November 2nd. StockNews.com assumed coverage on Wells Fargo & Company in a research report on Wednesday, October 12th. They issued a "hold" rating on the stock. Finally, BMO Capital Markets upped their target price on Wells Fargo & Company from $61.00 to $63.00 and gave the company a "market perform" rating in a report on Monday, October 17th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $52.62.
Wells Fargo & Company Profile
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Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage products and services, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.
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