Mraz Amerine & Associates Inc. Purchases New Position in Wells Fargo & Company $WFC

Key Points

• Mraz Amerine & Associates Inc. has acquired a new stake in Wells Fargo & Company, purchasing 8,143 shares valued at approximately $652,000.
• Wells Fargo recently reported earnings of $1.54 per share for the last quarter, exceeding analyst expectations, with revenue slightly down from projections at $20.82 billion.
• The company has announced an increase in its quarterly dividend from $0.40 to $0.45, reflecting a 2.2% annual yield and a lower dividend payout ratio of 30.82%.

Mraz Amerine & Associates Inc. acquired a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 8,143 shares of the financial services provider's stock, valued at approximately $652,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Management Partners LLC boosted its holdings in Wells Fargo & Company by 3.5% in the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider's stock valued at $313,000 after purchasing an additional 128 shares during the period. Verum Partners LLC boosted its stake in Wells Fargo & Company by 1.8% during the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider's stock valued at $582,000 after buying an additional 128 shares during the period. Motive Wealth Advisors grew its position in Wells Fargo & Company by 3.7% during the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider's stock worth $293,000 after buying an additional 129 shares in the last quarter. Lynch & Associates IN increased its stake in Wells Fargo & Company by 2.0% in the 2nd quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider's stock worth $539,000 after acquiring an additional 135 shares during the last quarter. Finally, Financial Management Professionals Inc. raised its holdings in shares of Wells Fargo & Company by 19.3% in the 2nd quarter. Financial Management Professionals Inc. now owns 854 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $80.63 on Tuesday. The company has a 50-day simple moving average of $80.72 and a two-hundred day simple moving average of $76.39. Wells Fargo & Company has a 12-month low of $56.80 and a 12-month high of $86.65. The firm has a market cap of $258.29 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.24 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.

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

Wells Fargo & Company Increases Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on WFC shares. Piper Sandler reiterated an "overweight" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Cowen reissued a "hold" rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Dbs Bank raised shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. Finally, Raymond James Financial lowered shares of Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 7th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $83.74.

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.

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