Centaurus Financial Inc. Takes $3.14 Million Position in Wells Fargo & Company $WFC

Centaurus Financial Inc. purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 38,027 shares of the financial services provider's stock, valued at approximately $3,143,000.

A number of other large investors also recently bought and sold shares of the business. Godfrey Financial Associates Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter worth $25,000. Miller Capital Partners Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth $25,000. Navalign LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at $26,000. Joseph Group Capital Management purchased a new position in Wells Fargo & Company during the fourth quarter valued at $28,000. Finally, Phillip James Consulting Co. acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at about $28,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $85.00 on Friday. The company has a market cap of $257.04 billion, a P/E ratio of 12.35, a P/E/G ratio of 0.93 and a beta of 0.92. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The company's 50-day moving average price is $86.19 and its 200-day moving average price is $82.68. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data 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 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 the consensus estimate of $21.86 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. Wells Fargo & Company's quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts forecast that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

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

More Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Wells Fargo is stepping up efforts to recruit independent financial advisers after a reported $1.5 billion overhaul of its wealth-management business. Expanding the adviser network could increase assets under management, fee revenue and the division’s long-term growth prospects. Wells Fargo Makes New Push to Recruit Wealth Managers
• Positive Sentiment: A comparison with PNC Financial characterized WFC as offering a lower valuation and improving efficiency, supporting the view that the stock may have additional value potential despite PNC’s stronger growth and dividend yield. Wells Fargo vs. PNC Financial: Which Stock Offers Better Upside Now?
• Neutral Sentiment: The bank’s most recent quarterly results provide a supportive backdrop: earnings and revenue exceeded analyst expectations, with revenue rising year over year. However, the stock’s valuation and outlook remain sensitive to interest rates, loan growth and credit costs.
• Negative Sentiment: Wells Fargo is reportedly foreclosing on Workspace Property Trust’s $1.3 billion property portfolio after falling occupancy and asset values increased financial stress. Recovering collateral could limit losses, but the action underscores commercial real-estate exposure and potential pressure on credit quality. Wells Fargo Forecloses On $1.3B Workspace Property Trust Loan

Analyst Ratings Changes

WFC has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, June 26th. Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Sunday, June 14th. UBS Group reduced their target price on Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Robert W. Baird raised their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods dropped their price target on Wells Fargo & Company from $98.00 to $94.00 and set a "market perform" rating for the company in a research report on Wednesday, July 15th. Two 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 company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $98.61.

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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