AdvisorShares Investments LLC Invests $486,000 in Wells Fargo & Company $WFC

AdvisorShares Investments LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,800 shares of the financial services provider’s stock, valued at approximately $486,000.

Several other large investors have also recently added to or reduced their stakes in the business. Access Investment Management LLC purchased a new position in Wells Fargo & Company during the second quarter worth approximately $25,000. Marquette Asset Management LLC raised its position in shares of Wells Fargo & Company by 472.4% in the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after buying an additional 274 shares during the period. Grey Fox Wealth Advisors LLC acquired a new position in Wells Fargo & Company in the third quarter valued at $30,000. Kilter Group LLC purchased a new stake in Wells Fargo & Company during the second quarter valued at about $31,000. Finally, Aventus Investment Advisors Inc. acquired a new stake in Wells Fargo & Company during the third quarter worth about $37,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Truist Financial reduced their price objective on Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, January 15th. Robert W. Baird downgraded shares of Wells Fargo & Company from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 6th. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Bank of America lifted their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Finally, TD Cowen cut their price objective on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, January 15th. Thirteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.92.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $93.93 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76. The business has a 50 day moving average price of $91.64 and a two-hundred day moving average price of $85.69. The firm has a market cap of $294.85 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 1.03 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. The business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.43 earnings per share. Sell-side 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 will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is 28.71%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.