Sierra Summit Advisors LLC Buys 467 Shares of Wells Fargo & Company (NYSE:WFC)

Sierra Summit Advisors LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,401 shares of the financial services provider’s stock after acquiring an additional 467 shares during the period. Sierra Summit Advisors LLC’s holdings in Wells Fargo & Company were worth $440,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. John W. Brooker & Co. CPAs lifted its stake in Wells Fargo & Company by 2.5% in the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock valued at $420,000 after acquiring an additional 171 shares in the last quarter. McAdam LLC raised its holdings in shares of Wells Fargo & Company by 3.3% in the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 178 shares during the last quarter. Prentice Wealth Management LLC lifted its position in shares of Wells Fargo & Company by 2.0% in the second quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock worth $560,000 after purchasing an additional 184 shares in the last quarter. Clearstead Trust LLC boosted its holdings in Wells Fargo & Company by 13.0% during the first quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 186 shares during the last quarter. Finally, Fortitude Family Office LLC grew its position in Wells Fargo & Company by 3.4% in the second quarter. Fortitude Family Office LLC now owns 5,897 shares of the financial services provider’s stock valued at $350,000 after purchasing an additional 193 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on WFC. Evercore ISI cut their price target on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. BMO Capital Markets upped their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods decreased their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, September 3rd. Finally, Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price of $60.29.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $52.78 on Monday. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The company’s 50 day moving average price is $56.60 and its two-hundred day moving average price is $57.93. The firm has a market cap of $184.01 billion, a PE ratio of 10.84, a PEG ratio of 1.27 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. During the same quarter in the prior year, the business posted $1.25 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.03%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.