B. Riley Wealth Advisors Inc. Has $2.70 Million Holdings in Wells Fargo & Company (NYSE:WFC)

B. Riley Wealth Advisors Inc. lowered its position in Wells Fargo & Company (NYSE:WFC) by 18.5% during the fourth quarter, Holdings Channel reports. The firm owned 54,873 shares of the financial services provider’s stock after selling 12,473 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Wells Fargo & Company were worth $2,701,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WFC. United Services Automobile Association grew its stake in shares of Wells Fargo & Company by 13.7% in the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock valued at $4,000,000 after buying an additional 11,825 shares during the period. Synovus Financial Corp grew its stake in Wells Fargo & Company by 61.7% in the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after acquiring an additional 46,525 shares during the period. Trust Point Inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $2,499,000. G2 Capital Management LLC OH acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $278,000. Finally, North Reef Capital Management LP lifted its holdings in shares of Wells Fargo & Company by 40.2% in the 3rd quarter. North Reef Capital Management LP now owns 2,300,000 shares of the financial services provider’s stock worth $93,978,000 after purchasing an additional 660,000 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $58.24 on Tuesday. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The stock’s 50 day simple moving average is $59.39 and its two-hundred day simple moving average is $54.35. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market cap of $203.04 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 1.49 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. As a group, analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s payout ratio is currently 29.23%.

Wall Street Analyst Weigh In

Several research firms have weighed in on WFC. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Jefferies Financial Group raised their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Evercore ISI raised their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Fourteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $58.99.

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.