Advisory Services Network LLC Has $9.48 Million Holdings in Wells Fargo & Company $WFC

Advisory Services Network LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 5.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 117,617 shares of the financial services provider’s stock after acquiring an additional 5,884 shares during the period. Advisory Services Network LLC’s holdings in Wells Fargo & Company were worth $9,484,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after buying an additional 25,436 shares during the last quarter. Ethic Inc. raised its holdings in Wells Fargo & Company by 8.5% in the 1st quarter. Ethic Inc. now owns 58,629 shares of the financial services provider’s stock valued at $4,181,000 after acquiring an additional 4,581 shares during the period. Nations Financial Group Inc. IA ADV boosted its holdings in shares of Wells Fargo & Company by 220.2% during the first quarter. Nations Financial Group Inc. IA ADV now owns 13,317 shares of the financial services provider’s stock worth $956,000 after acquiring an additional 9,158 shares during the period. Forvis Mazars Wealth Advisors LLC grew its position in shares of Wells Fargo & Company by 1.2% in the first quarter. Forvis Mazars Wealth Advisors LLC now owns 12,978 shares of the financial services provider’s stock valued at $932,000 after purchasing an additional 159 shares during the last quarter. Finally, Tyler Stone Wealth Management increased its stake in shares of Wells Fargo & Company by 6.7% during the first quarter. Tyler Stone Wealth Management now owns 4,356 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 272 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Truist Financial boosted their price target on Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Evercore ISI upped their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Barclays increased their target price on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Finally, Citigroup lifted their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.04.

Wells Fargo & Company Stock Up 0.2%

NYSE WFC opened at $92.76 on Monday. The business has a fifty day moving average price of $85.51 and a two-hundred day moving average price of $81.80. The stock has a market capitalization of $291.18 billion, a PE ratio of 15.26, a PEG ratio of 0.96 and a beta of 1.11. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $93.42. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. The company had revenue of $21.44 billion during 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%.Wells Fargo & Company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 EPS. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.9%. Wells Fargo & Company’s dividend payout ratio is 29.61%.

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.