Hancock Whitney Corp Has $8.11 Million Position in Wells Fargo & Company $WFC

Key Points

• Hancock Whitney Corp raised its position in Wells Fargo, holding a total of 112,981 shares worth approximately $8.11 million after acquiring an additional 18,322 shares in the first quarter.
• Wells Fargo recently announced a quarterly dividend increase to $0.45 per share, reflecting an annualized boost to $1.80 and a yield of 2.2%.
• The company reported earnings of $1.54 per share for the last quarter, exceeding analysts' expectations, and showcased a year-over-year revenue growth of 0.6% to $20.82 billion.

Hancock Whitney Corp increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 19.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,981 shares of the financial services provider's stock after acquiring an additional 18,322 shares during the period. Hancock Whitney Corp's holdings in Wells Fargo & Company were worth $8,111,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Motco grew its holdings in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider's stock worth $29,000 after purchasing an additional 326 shares during the last quarter. Accent Capital Management LLC acquired a new position in Wells Fargo & Company in the first quarter valued at about $29,000. Stone House Investment Management LLC acquired a new position in Wells Fargo & Company in the first quarter valued at about $34,000. Dunhill Financial LLC grew its stake in Wells Fargo & Company by 63.7% during the fourth quarter. Dunhill Financial LLC now owns 496 shares of the financial services provider's stock worth $35,000 after buying an additional 193 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $35,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $80.51 on Thursday. The stock has a market capitalization of $257.89 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.28 and a beta of 1.25. Wells Fargo & Company has a 1-year low of $50.22 and a 1-year high of $84.83. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The business has a 50-day moving average price of $80.51 and a two-hundred day moving average price of $75.06.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating 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 company had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same quarter last year, the firm earned $1.33 EPS. The company's revenue for the quarter was up .6% on a year-over-year basis. Equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's dividend payout ratio (DPR) is presently 30.82%.

Wall Street Analysts Forecast Growth

WFC has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price 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. Morgan Stanley raised their target price on Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Truist Financial lifted 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. Citigroup reissued a "neutral" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, Bank of America raised their price objective on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $82.56.

About Wells Fargo & Company

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.