ST Germain D J Co. Inc. Increases Stock Position in Wells Fargo & Company $WFC

Key Points

• ST Germain D J Co. Inc. increased its holdings in Wells Fargo by 5.7%, owning 342,501 shares valued at approximately $27.44 million, making it the 22nd largest position in their portfolio.
• Wells Fargo reported $1.54 EPS for the latest quarter, exceeding analysts' expectations of $1.41, with a revenue increase of 0.6% year-over-year.
• The company recently raised its quarterly dividend from $0.40 to $0.45, indicating confidence in its financial stability, with an annual dividend yield of 2.1%.

ST Germain D J Co. Inc. grew its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 342,501 shares of the financial services provider's stock after buying an additional 18,413 shares during the period. Wells Fargo & Company accounts for approximately 1.2% of ST Germain D J Co. Inc.'s holdings, making the stock its 22nd biggest position. ST Germain D J Co. Inc.'s holdings in Wells Fargo & Company were worth $27,441,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Evercore ISI reiterated an "outperform" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Cowen restated a "hold" rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Truist Financial lifted their price target on Wells Fargo & Company from $86.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday. Citigroup upped their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday. Finally, Dbs Bank raised shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $82.97.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $84.31 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 12 month low of $53.31 and a 12 month high of $86.65. The company has a market capitalization of $270.08 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.30 and a beta of 1.25. The firm's 50-day moving average is $80.76 and its 200 day moving average is $75.74.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the business earned $1.33 earnings per share. The company's revenue for the quarter was up .6% compared to the same quarter last year. Research analysts predict 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. Shareholders of record on Friday, August 8th were given a $0.45 dividend. 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. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company's dividend payout ratio is currently 30.82%.

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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