Lantz Financial LLC Purchases 908 Shares of Wells Fargo & Company (NYSE:WFC)

Lantz Financial LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 5.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,483 shares of the financial services provider’s stock after purchasing an additional 908 shares during the period. Lantz Financial LLC’s holdings in Wells Fargo & Company were worth $703,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Dodge & Cox increased its position in shares of Wells Fargo & Company by 1.4% during the first quarter. Dodge & Cox now owns 120,385,253 shares of the financial services provider’s stock valued at $4,500,001,000 after purchasing an additional 1,662,877 shares during the period. Geode Capital Management LLC boosted its stake in Wells Fargo & Company by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 68,746,622 shares of the financial services provider’s stock valued at $2,564,588,000 after buying an additional 929,727 shares in the last quarter. Norges Bank acquired a new stake in Wells Fargo & Company in the 4th quarter valued at $2,049,693,000. Moneta Group Investment Advisors LLC boosted its stake in Wells Fargo & Company by 129,312.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock valued at $1,085,410,000 after buying an additional 26,267,166 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Wells Fargo & Company by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 23,079,196 shares of the financial services provider’s stock valued at $862,700,000 after buying an additional 304,269 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 0.4 %

Wells Fargo & Company stock traded up $0.18 during midday trading on Tuesday, reaching $43.61. The stock had a trading volume of 1,618,925 shares, compared to its average volume of 20,274,705. The firm’s fifty day simple moving average is $43.43 and its 200-day simple moving average is $41.42. Wells Fargo & Company has a 1-year low of $35.25 and a 1-year high of $48.84. The stock has a market capitalization of $159.56 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 0.87 and a beta of 1.14. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. The business had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.11 billion. Wells Fargo & Company had a return on equity of 11.15% and a net margin of 16.18%. Wells Fargo & Company’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 EPS. As a group, analysts expect that Wells Fargo & Company will post 4.84 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.21%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, August 3rd. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 35.00%.

Analysts Set New Price Targets

Several brokerages recently commented on WFC. Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $43.75 price target on the stock. in a research note on Monday, July 17th. Piper Sandler increased their target price on Wells Fargo & Company from $43.00 to $45.00 in a report on Monday, July 17th. Raymond James increased their target price on Wells Fargo & Company from $48.00 to $51.00 and gave the stock a “strong-buy” rating in a report on Monday, July 3rd. BMO Capital Markets decreased their target price on Wells Fargo & Company from $54.00 to $51.00 in a report on Monday, July 17th. Finally, StockNews.com began coverage on Wells Fargo & Company in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $48.39.

Wells Fargo & Company Profile

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