7,374 Shares in Wells Fargo & Company $WFC Purchased by Silver Oak Advisory Group Inc.

Key Points

• Silver Oak Advisory Group Inc. has acquired 7,374 shares of Wells Fargo & Company (NYSE:WFC), valued at approximately $590,000, as reported in their recent 13F filing.
• Wells Fargo has increased its quarterly dividend by 12.5% from $0.40 to $0.45, reflecting a yield of 2.1% with a payout ratio of 29.61%.
• The company announced an earnings per share (EPS) of $1.66 for the most recent quarter, exceeding analysts' expectations of $1.55.

Silver Oak Advisory Group Inc. purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,374 shares of the financial services provider's stock, valued at approximately $590,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealth Management Partners LLC boosted its holdings in Wells Fargo & Company by 3.5% in the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider's stock valued at $313,000 after purchasing an additional 128 shares in the last quarter. Verum Partners LLC boosted its holdings in Wells Fargo & Company by 1.8% in the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider's stock valued at $582,000 after purchasing an additional 128 shares in the last quarter. Motive Wealth Advisors boosted its holdings in Wells Fargo & Company by 3.7% in the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider's stock valued at $293,000 after purchasing an additional 129 shares in the last quarter. Exencial Wealth Advisors LLC boosted its holdings in Wells Fargo & Company by 0.7% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider's stock valued at $1,443,000 after purchasing an additional 131 shares in the last quarter. Finally, Vivid Wealth Management LLC boosted its holdings in Wells Fargo & Company by 0.8% in the 2nd quarter. Vivid Wealth Management LLC now owns 17,243 shares of the financial services provider's stock valued at $1,381,000 after purchasing an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 1.7%

WFC stock opened at $85.28 on Thursday. The company has a market cap of $273.18 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.16 and a beta of 1.25. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The business has a fifty day simple moving average of $81.61 and a 200-day simple moving average of $77.29. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $87.47.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.11. The business had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.42 EPS. On average, equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, August 8th. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's dividend payout ratio is currently 29.61%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. TD Cowen lifted their price objective on Wells Fargo & Company from $90.00 to $93.00 and gave the company a "hold" rating in a report on Wednesday, October 15th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, October 15th. Bank of America upped their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, October 15th. UBS Group reduced their target price on Wells Fargo & Company from $95.00 to $93.00 and set a "buy" rating on the stock in a research note on Tuesday, October 7th. Finally, Barclays upped their target price on Wells Fargo & Company from $87.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.57.

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.

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).

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.