BDF Gestion Buys Shares of 50,000 Wells Fargo & Company $WFC

Key Points

• BDF Gestion acquired 50,000 shares of Wells Fargo & Company, valued at approximately $4 million, during the 2nd quarter.
• Wells Fargo reported a quarterly EPS of $1.54, surpassing analysts' expectations of $1.41, and reported revenue of $20.82 billion.
• The company announced a dividend increase to $0.45 per share, up from $0.40, with a current yield of 2.1%.

BDF Gestion acquired a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 50,000 shares of the financial services provider's stock, valued at approximately $4,006,000.

Several other institutional investors and hedge funds also recently bought and sold shares of WFC. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Wells Fargo & Company by 2,735,254.3% during 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 buying an additional 949,735,001 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of 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 acquiring an additional 128,207 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Wells Fargo & Company by 277.4% during the first 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 purchasing an additional 7,894,919 shares during the last quarter. Boston Partners grew its stake in Wells Fargo & Company by 6.2% in the first quarter. Boston Partners now owns 8,953,009 shares of the financial services provider's stock valued at $640,616,000 after purchasing an additional 523,107 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake 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 in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $84.61 on Friday. The stock has a 50 day moving average of $80.44 and a two-hundred day moving average of $75.37. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 12 month low of $53.31 and a 12 month high of $84.93. The company has a market capitalization of $271.04 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.30 and a beta of 1.25.

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

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a $0.45 dividend. 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. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company's payout ratio is presently 30.82%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WFC. Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Raymond James Financial cut shares of Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 7th. The Goldman Sachs Group decreased their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Bank of America upped their price objective on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Truist Financial increased their price target on Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and an average target price of $82.56.

Wells Fargo & Company 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.

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