B. Riley Wealth Advisors Inc. Makes New Investment in Wells Fargo & Company $WFC

B. Riley Wealth Advisors Inc. purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 31,955 shares of the financial services provider’s stock, valued at approximately $2,560,000.

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

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $92.76 on Monday. The business’s 50-day simple moving average is $85.51 and its 200 day simple moving average is $81.80. The company has a market cap of $291.18 billion, a P/E ratio of 15.26, a PEG ratio of 0.96 and a beta of 1.11. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a one year low of $58.42 and a one year high of $93.42.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.18. The company had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. Wells Fargo & Company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $1.42 earnings per share. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

WFC has been the subject of a number of research reports. Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Bank of America lifted their price objective on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. UBS Group dropped their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Truist Financial raised their price target on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, Evercore ISI lifted 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 report on Tuesday, September 30th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $90.04.

Wells Fargo & Company Company Profile

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.