Livforsakringsbolaget Skandia Omsesidigt bought a new position in Wells Fargo & Company (NYSE:WFC) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 54,322 shares of the financial services provider's stock, valued at approximately $4,489,000.
Several other large investors have also recently bought and sold shares of the company. Godfrey Financial Associates Inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $25,000. Miller Capital Partners Inc. bought a new position in Wells Fargo & Company in the 4th quarter valued at approximately $25,000. Navalign LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at approximately $26,000. Core Wealth Advisors LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $29,000. Finally, Strive Financial Group LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $29,000. 75.90% of the stock is currently owned by institutional investors.
Wells Fargo & Company Stock Up 1.9%
Shares of NYSE WFC opened at $86.62 on Friday. The company's 50 day moving average price is $86.27 and its 200-day moving average price is $82.71. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The company has a market capitalization of $261.94 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The company had revenue of $22.62 billion during the quarter, compared to analysts' expectations of $21.86 billion. During the same period in the prior year, the company posted $1.60 earnings per share. Wells Fargo & Company's revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 7.26 earnings per share for the current year.
Wells Fargo & Company Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, August 7th. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.45. Wells Fargo & Company's dividend payout ratio (DPR) is 29.07%.
Trending Headlines about Wells Fargo & Company
Here are the key news stories impacting Wells Fargo & Company this week:
- Positive Sentiment: Wells Fargo is reportedly seeking to recruit hundreds of independent financial advisers, expanding its Wealth & Investment Management division and targeting affluent and high-net-worth clients. The initiative builds on a multiyear overhaul and could support fee-based revenue, asset growth and deeper customer relationships. WFC Broadens Wealth Focus: Can Its Multi-Year Revamp Drive Growth?
- Positive Sentiment: The wealth-management push follows an approximately $1.5 billion revamp and emphasizes independent advisers who can use Wells Fargo’s platform and infrastructure. Successful hiring and retention could improve the division’s long-term growth prospects, although benefits will take time to materialize. Wells Fargo Steps Up Wealth Hiring After $1.5 Billion Revamp
- Neutral Sentiment: Analysts collectively maintain a “Moderate Buy” recommendation for Wells Fargo. The rating indicates generally constructive sentiment, but it does not represent a new earnings forecast or a clearly identifiable catalyst. Wells Fargo Given Average Recommendation of Moderate Buy by Analysts
- Neutral Sentiment: A market-focused report noted that WFC advanced even as the broader market declined, suggesting relative investor support. The article did not identify a major new earnings announcement, guidance change or regulatory development behind the move. Wells Fargo Gains As Market Dips: What You Should Know
Wall Street Analyst Weigh In
WFC has been the subject of several recent research reports. Robert W. Baird upped their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, June 26th. UBS Group reduced their price objective on shares of Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. Raymond James Financial reissued a "market perform" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. raised their target price on Wells Fargo & Company from $93.50 to $95.50 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $98.61.
Get Our Latest Research Report on WFC
Wells Fargo & Company Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Free Report).
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