Davis Investment Partners LLC Makes New $305,000 Investment in Wells Fargo & Company $WFC

Key Points

• Davis Investment Partners LLC recently made a new investment of $305,000 in Wells Fargo & Company, acquiring 3,738 shares in the second quarter.
• Wells Fargo has seen significant interest from institutional investors, with many increasing their stakes in the company by large percentages during the first quarter.
• The company recently raised its quarterly dividend from $0.40 to $0.45, which represents a dividend yield of 2.2% and underscores its stable financial performance.

Davis Investment Partners LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,738 shares of the financial services provider's stock, valued at approximately $305,000.

Other institutional investors have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC increased its stake in Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock worth $27,000 after buying an additional 322 shares during the period. Motco increased its position in shares of Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider's stock worth $29,000 after acquiring an additional 326 shares during the last quarter. Accent Capital Management LLC acquired a new position in shares of Wells Fargo & Company in the first quarter worth about $29,000. 1248 Management LLC acquired a new position in shares of Wells Fargo & Company in the first quarter worth about $31,000. Finally, Stone House Investment Management LLC purchased a new position in Wells Fargo & Company in the first quarter valued at about $34,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on WFC. The Goldman Sachs Group dropped their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Phillip Securities cut shares of Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. Truist Financial raised their price objective on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Piper Sandler restated an "overweight" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Finally, Bank of America lifted their price target on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $82.56.

Wells Fargo & Company Trading Up 0.3%

Wells Fargo & Company stock opened at $81.46 on Monday. Wells Fargo & Company has a 1 year low of $51.75 and a 1 year high of $84.83. The firm's 50-day moving average is $80.38 and its 200-day moving average is $75.14. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market cap of $260.95 billion, a P/E ratio of 13.95, a PEG ratio of 1.27 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 for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the prior year, the business earned $1.33 earnings per share. Wells Fargo & Company's quarterly revenue was up .6% on a year-over-year basis. On average, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a $0.45 dividend. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company's dividend payout ratio (DPR) is 30.82%.

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.

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