State of Wyoming Buys New Holdings in Wells Fargo & Company $WFC

State of Wyoming bought a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,177 shares of the financial services provider's stock, valued at approximately $228,000.

Other institutional investors also recently bought and sold shares of the company. Motco lifted its holdings in Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider's stock worth $29,000 after buying an additional 326 shares during the period. Accent Capital Management LLC purchased a new stake in Wells Fargo & Company in the 1st quarter worth approximately $29,000. Stone House Investment Management LLC purchased a new stake in Wells Fargo & Company in the 1st quarter worth approximately $34,000. Dunhill Financial LLC lifted its holdings in Wells Fargo & Company by 63.7% in the 4th quarter. Dunhill Financial LLC now owns 496 shares of the financial services provider's stock worth $35,000 after buying an additional 193 shares during the period. Finally, Orion Capital Management LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $35,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 1.6%

WFC stock opened at $80.51 on Thursday. Wells Fargo & Company has a twelve month low of $50.22 and a twelve month high of $84.83. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The firm has a market cap of $257.89 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.28 and a beta of 1.25. The business has a 50 day moving average of $80.51 and a 200 day moving average of $75.06.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data 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. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same quarter last year, the company earned $1.33 EPS. The firm's revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were given a dividend of $0.45 per share. 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 dividend on an annualized basis and a yield of 2.2%. Wells Fargo & Company's dividend payout ratio is 30.82%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WFC shares. Evercore ISI reiterated an "outperform" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. The Goldman Sachs Group dropped their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Truist Financial increased their price objective on Wells Fargo & Company from $83.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Cowen reissued a "hold" rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Finally, Bank of America increased their target price on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Ten investment 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 stock has a consensus rating of "Moderate Buy" and a consensus 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.

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