AMG National Trust Bank Takes $1.29 Million Position in Wells Fargo & Company $WFC

AMG National Trust Bank acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 15,637 shares of the financial services provider's stock, valued at approximately $1,292,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of WFC. Godfrey Financial Associates Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $25,000. Miller Capital Partners Inc. purchased a new position in Wells Fargo & Company during the 4th quarter worth approximately $25,000. Navalign LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth approximately $26,000. Joseph Group Capital Management acquired a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $28,000. Finally, Phillip James Consulting Co. purchased a new stake in Wells Fargo & Company in the first quarter valued at $28,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of recent research reports. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, May 7th. Truist Financial lifted their price target on Wells Fargo & Company from $90.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Wall Street Zen raised Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Sunday, June 14th. Weiss Ratings restated a "buy (b)" rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Finally, UBS Group lowered their price target on shares of Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of "Moderate Buy" and a consensus price target of $98.61.

Wells Fargo & Company Trading Up 0.2%

Shares of Wells Fargo & Company stock opened at $83.83 on Friday. The stock has a 50 day moving average of $86.08 and a 200 day moving average of $82.97. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $253.50 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.91 and a beta of 0.92. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The company had revenue of $22.62 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same quarter in the previous year, the business earned $1.60 earnings per share. The company's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, research analysts predict that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 annualized dividend and a yield of 2.4%. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.45. Wells Fargo & Company's dividend payout ratio is presently 29.07%.

Wells Fargo & Company Profile

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.

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