Integrity Alliance LLC. Purchases New Shares in Wells Fargo & Company $WFC

Key Points

• Integrity Alliance LLC has acquired 18,892 shares of Wells Fargo & Company, valued at approximately $1,356,000, marking a new position for the institutional investor in the first quarter.
• Wells Fargo reported an EPS of $1.54 for the last quarter, exceeding the consensus estimate, along with a revenue of $20.82 billion, which was slightly below expectations.
• The company has increased its quarterly dividend from $0.40 to $0.45 per share, representing an annualized dividend yield of 2.2%.

Integrity Alliance LLC. acquired a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,892 shares of the financial services provider's stock, valued at approximately $1,356,000.

Several other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Wells Fargo & Company by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider's stock valued at $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% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock worth $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 1st 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Wells Fargo & Company by 10.0% during the 1st 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 during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Wells Fargo & Company by 34.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider's stock worth $381,016,000 after purchasing an additional 1,365,629 shares during the period. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $80.29 on Thursday. The firm has a market cap of $257.20 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 1.26 and a beta of 1.25. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The company's 50 day moving average is $80.47 and its 200-day moving average is $75.09. Wells Fargo & Company has a 12-month low of $50.22 and a 12-month high of $84.83.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm's revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 EPS. Sell-side 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 declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company's payout ratio is 30.82%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Phillip Securities lowered shares of Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Truist Financial boosted their target price on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Bank of America raised their price target on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. TD Cowen started coverage on shares of Wells Fargo & Company in a report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price target on the stock. Finally, Dbs Bank raised Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, Wells Fargo & Company has an average 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.

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.