Markowski Investments Acquires New Holdings in Wells Fargo & Company $WFC

Key Points

• Markowski Investments acquired 44,188 Wells Fargo shares during the second quarter, valued at approximately $3.65 million and representing 0.8% of its portfolio.
• Analysts maintain a generally positive outlook, with Wells Fargo carrying a “Moderate Buy” consensus rating and an average price target of $98.61.
• Wells Fargo reported quarterly EPS of $1.96, exceeding estimates, while revenue rose 8.6% year over year to $22.62 billion. The bank also increased its quarterly dividend to $0.50 per share, equating to a 2.2% annual yield.

Markowski Investments bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 44,188 shares of the financial services provider's stock, valued at approximately $3,652,000. Wells Fargo & Company comprises 0.8% of Markowski Investments' portfolio, making the stock its 27th largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nixon Peabody Trust Co. increased its stake in shares of Wells Fargo & Company by 3.6% during the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider's stock worth $312,000 after purchasing an additional 115 shares in the last quarter. MFA Wealth Services lifted its stake in Wells Fargo & Company by 0.7% in the 2nd quarter. MFA Wealth Services now owns 16,712 shares of the financial services provider's stock valued at $1,381,000 after buying an additional 115 shares in the last quarter. Simmons Bank grew its holdings in Wells Fargo & Company by 1.9% during the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider's stock valued at $593,000 after buying an additional 116 shares during the last quarter. Wood Tarver Financial Group LLC grew its holdings in Wells Fargo & Company by 1.6% during the 4th quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider's stock valued at $722,000 after buying an additional 120 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC boosted its stake in shares of Wells Fargo & Company by 1.8% during the second quarter. Hidden Cove Wealth Management LLC now owns 6,846 shares of the financial services provider's stock valued at $566,000 after acquiring an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WFC shares. Truist Financial boosted their price objective on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Bank of America increased their price target on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Weiss Ratings restated a "buy (b)" rating on shares of Wells Fargo & Company in a report on Friday, July 17th. Morgan Stanley lifted their price objective on Wells Fargo & Company from $97.00 to $102.00 and gave the company an "equal weight" rating in a research report on Monday, June 29th. Finally, Robert W. Baird increased their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $98.61.

Wells Fargo & Company Trading Up 0.8%

Shares of WFC opened at $89.90 on Friday. The stock has a market cap of $271.86 billion, a PE ratio of 13.07, a P/E/G ratio of 0.97 and a beta of 0.92. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The stock's 50-day moving average is $86.69 and its two-hundred day moving average is $82.66. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The business had revenue of $22.62 billion for the quarter, compared to analysts' expectations of $21.86 billion. During the same period in the previous year, the company posted $1.60 earnings per share. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, August 7th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.45. Wells Fargo & Company's dividend payout ratio is currently 29.07%.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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