Silvant Capital Management LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 62,130 shares of the financial services provider's stock, valued at approximately $5,134,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Godfrey Financial Associates Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $25,000. Miller Capital Partners Inc. acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Navalign LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Joseph Group Capital Management purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $28,000. Finally, Phillip James Consulting Co. purchased a new stake in Wells Fargo & Company in the 1st quarter worth approximately $28,000. Institutional investors and hedge funds own 75.90% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on WFC shares. UBS Group cut their target price on shares of Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Wall Street Zen raised shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Sunday, June 14th. Truist Financial raised their price target 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 lifted their price objective on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Finally, Robert W. Baird upped their price objective on shares of 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 analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $98.61.
Read Our Latest Stock Report on Wells Fargo & Company
Wells Fargo & Company Stock Up 1.0%
Shares of WFC opened at $84.70 on Tuesday. The firm has a market cap of $256.13 billion, a P/E ratio of 12.31, a PEG ratio of 0.91 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 $86.11 and its two-hundred day moving average is $82.85. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The business had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the prior year, the company posted $1.60 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. Analysts predict that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.
Wells Fargo & Company Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a dividend of $0.50 per share. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, August 7th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 29.07%.
About Wells Fargo & Company
(
Free Report)
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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