ORG Wealth Partners LLC Purchases Shares of 1,430 Wells Fargo & Company (NYSE:WFC)

ORG Wealth Partners LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,430 shares of the financial services provider’s stock, valued at approximately $81,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new position in Wells Fargo & Company in the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company in the second quarter valued at approximately $26,000. Valued Wealth Advisors LLC lifted its stake in Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after buying an additional 220 shares during the period. J.Safra Asset Management Corp raised its position in shares of Wells Fargo & Company by 704.3% during the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 648 shares during the period. Finally, Fairscale Capital LLC acquired a new position in shares of Wells Fargo & Company during the second quarter worth approximately $47,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 1.9 %

Shares of NYSE:WFC opened at $62.16 on Tuesday. The company has a market capitalization of $216.71 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The business has a fifty day moving average price of $55.59 and a two-hundred day moving average price of $57.82. Wells Fargo & Company has a 1 year low of $38.58 and a 1 year high of $63.35.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 EPS. Analysts forecast that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. Wells Fargo & Company’s dividend payout ratio is presently 32.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WFC. Piper Sandler upped their target price on Wells Fargo & Company from $60.00 to $62.00 and gave the stock a “neutral” rating in a research report on Monday. Evercore ISI upped their target price on Wells Fargo & Company from $68.00 to $71.00 and gave the stock an “outperform” rating in a research report on Monday. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and lowered their target price for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Tuesday, September 3rd. Finally, Morgan Stanley lowered their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Thirteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.86.

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.