5,471 Shares in Wells Fargo & Company $WFC Bought by Charter Capital Management LLC DE

Key Points

• Charter Capital Management LLC DE acquired 5,471 shares of Wells Fargo & Company, valued at approximately $438,000, during the second quarter.
• Wells Fargo's recent quarterly earnings showed EPS of $1.54, surpassing analysts' expectations, while revenue reached $20.82 billion.
• The company announced an increase in its quarterly dividend from $0.40 to $0.45 per share, reflecting a dividend yield of 2.1%.

Charter Capital Management LLC DE bought a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,471 shares of the financial services provider's stock, valued at approximately $438,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider's stock valued at $76,095,550,000 after purchasing an additional 949,735,001 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Wells Fargo & Company by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider's stock worth $1,471,259,000 after buying an additional 128,207 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Wells Fargo & Company by 277.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock valued at $771,092,000 after acquiring an additional 7,894,919 shares during the period. Boston Partners boosted its position in Wells Fargo & Company by 6.2% during the 1st quarter. Boston Partners now owns 8,953,009 shares of the financial services provider's stock worth $640,616,000 after purchasing an additional 523,107 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Wells Fargo & Company by 10.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,009,440 shares of the financial services provider's stock valued at $431,418,000 after purchasing an additional 544,473 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

WFC opened at $84.33 on Wednesday. The business has a 50 day moving average price of $80.58 and a two-hundred day moving average price of $75.56. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market capitalization of $270.16 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. Wells Fargo & Company has a 1-year low of $53.31 and a 1-year high of $86.66.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.33 EPS. Research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company's payout ratio is 30.82%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Piper Sandler reiterated an "overweight" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Phillip Securities cut shares of Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Citigroup reiterated a "neutral" rating on shares of Wells Fargo & Company in a research note on Tuesday. Cowen restated a "hold" rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.56.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.