30,589 Shares in Wells Fargo & Company $WFC Purchased by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC has acquired a new position in Wells Fargo & Company, purchasing 30,589 shares valued at approximately $2.45 million.
• Wells Fargo recently reported earnings of $1.54 per share, exceeding analysts' estimates and reflecting a 0.6% year-over-year revenue increase.
• The company raised its quarterly dividend to $0.45 per share, which signifies a positive change from the previous dividend of $0.40 and a dividend yield of 2.1%.

Kingstone Capital Partners Texas LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 30,589 shares of the financial services provider's stock, valued at approximately $2,451,000.

A number of other institutional investors also recently modified their holdings of WFC. Accretive Wealth Partners LLC bought a new position in shares of Wells Fargo & Company during the 1st quarter worth about $399,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of Wells Fargo & Company by 10.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider's stock worth $54,471,000 after purchasing an additional 71,740 shares in the last quarter. Secured Retirement Advisors LLC bought a new position in shares of Wells Fargo & Company in the first quarter valued at $408,000. RKL Wealth Management LLC grew its holdings in shares of Wells Fargo & Company by 166.4% during the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider's stock valued at $588,000 after buying an additional 5,113 shares during the last quarter. Finally, Allianz SE increased its position in shares of Wells Fargo & Company by 22.6% during the first quarter. Allianz SE now owns 212,335 shares of the financial services provider's stock worth $15,244,000 after acquiring an additional 39,150 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 0.6%

Shares of WFC stock traded up $0.53 on Monday, hitting $85.17. 14,543,087 shares of the company's stock traded hands, compared to its average volume of 14,401,850. 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's fifty day simple moving average is $80.44 and its 200 day simple moving average is $75.40. The stock has a market capitalization of $272.85 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 1.31 and a beta of 1.25. Wells Fargo & Company has a one year low of $53.31 and a one year high of $85.28.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the prior year, the company posted $1.33 EPS. Wells Fargo & Company's quarterly revenue was up .6% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's payout ratio is presently 30.82%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of analyst reports. Phillip Securities downgraded Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Truist Financial lifted 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. Cowen reiterated a "hold" rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Finally, Raymond James Financial downgraded shares of Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 7th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $82.56.

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.