Asio Capital LLC Purchases 3,865 Shares of Wells Fargo & Company (NYSE:WFC)

Asio Capital LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,990 shares of the financial services provider’s stock after purchasing an additional 3,865 shares during the quarter. Asio Capital LLC’s holdings in Wells Fargo & Company were worth $3,615,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Slagle Financial LLC raised its holdings in Wells Fargo & Company by 97.3% in the fourth quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock worth $6,822,000 after purchasing an additional 68,356 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Wells Fargo & Company by 5.4% during the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock valued at $2,074,000 after acquiring an additional 1,835 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of Wells Fargo & Company by 16.4% during the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock valued at $8,805,000 after acquiring an additional 21,496 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Wells Fargo & Company by 28.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider’s stock valued at $27,441,000 after acquiring an additional 106,260 shares in the last quarter. Finally, FORVIS Wealth Advisors LLC increased its holdings in shares of Wells Fargo & Company by 154.2% during the first quarter. FORVIS Wealth Advisors LLC now owns 27,222 shares of the financial services provider’s stock valued at $1,578,000 after acquiring an additional 16,515 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $60.99 on Friday. The company has a market capitalization of $212.63 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.46 and a beta of 1.16. The business’s 50 day moving average is $55.39 and its two-hundred day moving average is $57.78. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 12-month low of $38.58 and a 12-month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, October 11th. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.25. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 5.12 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 2.62%. Wells Fargo & Company’s payout ratio is 32.85%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Tuesday, September 3rd. Morgan Stanley reduced their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Tuesday. BMO Capital Markets increased their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Finally, The Goldman Sachs Group dropped their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Twelve research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $60.65.

About Wells Fargo & Company

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.