Guardian Wealth Advisors LLC has acquired a new position in Wells Fargo & Company (NYE: WFC) during the Q3 of 2022, according to the most recent 13F filing with the SEC. The institutional investor has purchased 6,190 shares of the financial services provider’s stock, valued at approximately $249,000.
Other large investors have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in Wells Fargo & Company during Q2 worth $26,000. Financial Management Professionals Inc. increased its holdings in Wells Fargo & Company by 66.6% during Q3, now owning 688 shares worth $28,000 after purchasing an additional 275 shares. Tortoise Investment Management LLC increased its holdings in Wells Fargo & Company by 100.0% during Q2, now owning 800 shares worth $31,000. Moisand Fitzgerald Tamayo LLC increased its holdings in Wells Fargo & Company by 371.3% during Q2, now owning 919 shares worth $36,000 after purchasing an additional 724 shares. Finally, Orion Capital Management LLC increased its holdings in Wells Fargo & Company by 125.0% during Q3, now owning 900 shares worth $36,000 after purchasing an additional 500 shares.
Analyst Upgrades and Downgrades
WFC has been the subject of several analyst reports, with Barclays raising their price objective from $58.00 to $64.00 and giving the company an “overweight” rating. JPMorgan Chase & Co. raised their price objective from $46.50 to $49.50. Cfra upgraded WFC to a “buy” rating and set a price objective of $50.00. Citigroup raised their price objective from $48.00 to $52.00. StockNews.com initiated coverage on WFC with a “hold” rating. The stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.09.
Wells Fargo & Company Stock Performance
Shares of WFC opened at $48.25 on Thursday. The company has a market capitalization of $183.86 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 0.98, and a beta of 1.19. The debt-to-equity ratio is 1.08, the current ratio of 0.84, and a quick ratio of 0.84. The 1-year low is $36.54 and the 1-year high is $60.30.
Wells Fargo & Company Q2 Earnings Report
Wells Fargo & Company last posted its Q2 earnings results on Friday, January 13th. The financial services provider reported $0.67 earnings per share, topping analysts consensus estimates of $0.63. The firm had revenue of $19.66 billion, compared to analysts’ expectations of $20.04 billion. The net margin was 15.91% and the return on equity was 9.28%. Research analysts predict that Wells Fargo & Company will post 4.81 EPS for the current fiscal year.
Wells Fargo & Company Announces Dividend
The firm has declared a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Friday, February 3rd will receive a dividend of $0.30 per share, with an ex-dividend date of Thursday, February 2nd. The dividend yield is 2.49% and the dividend payout ratio is 38.
