Hilltop National Bank Takes $1.35 Million Position in Wells Fargo & Company $WFC

Hilltop National Bank bought a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,795 shares of the financial services provider's stock, valued at approximately $1,346,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Wells Fargo & Company by 585.5% in the first 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 boosted its holdings in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider's stock worth $29,000 after buying an additional 326 shares during the period. 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 acquired a new stake in shares of Wells Fargo & Company during the first quarter worth approximately $34,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen cut shares of Wells Fargo & Company from a "hold" rating to a "sell" rating in a report on Friday, September 26th. Piper Sandler restated an "overweight" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Evercore ISI raised their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an "outperform" rating in a report on Tuesday. Cowen restated a "hold" rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Finally, The Goldman Sachs Group decreased their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Nine investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.74.

Wells Fargo & Company Price Performance

Shares of WFC opened at $80.47 on Friday. The firm has a market cap of $257.79 billion, a PE ratio of 13.78, a PEG ratio of 1.25 and a beta of 1.25. The firm's 50 day moving average price is $80.84 and its 200 day moving average price is $76.22. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a twelve month low of $54.40 and a twelve month high of $86.65.

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

Wells Fargo & Company Increases Dividend

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

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.

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