Talon Private Wealth LLC Invests $2.51 Million in Wells Fargo & Company $WFC

Key Points

• Talon Private Wealth purchased 31,477 Wells Fargo shares during the first quarter, valued at approximately $2.51 million. Institutional investors collectively own 75.9% of WFC’s outstanding stock.
• Wells Fargo raised its quarterly dividend from $0.45 to $0.50 per share, equivalent to a $2.00 annualized dividend and a 2.3% yield.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $98.50, compared with a recent opening price of $86.86.

Talon Private Wealth LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 31,477 shares of the financial services provider's stock, valued at approximately $2,506,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. Godfrey Financial Associates Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter worth $25,000. Miller Capital Partners Inc. purchased a new position in Wells Fargo & Company during the 4th quarter worth $25,000. Navalign LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at $26,000. Joseph Group Capital Management acquired a new position in Wells Fargo & Company in the fourth quarter valued at $28,000. Finally, Core Wealth Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $86.86 on Wednesday. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. The firm's 50-day simple moving average is $83.22 and its 200 day simple moving average is $83.30. The firm has a market capitalization of $265.82 billion, a PE ratio of 12.63, a P/E/G ratio of 0.95 and a beta of 0.92.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is 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 presently 26.16%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WFC shares. Raymond James Financial reaffirmed a "market perform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 14th. HSBC raised Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $94.00 target price on the stock in a report on Wednesday, April 1st. 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. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an "equal weight" rating in a research note on Monday, June 29th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Wells Fargo & Company from $98.00 to $94.00 and set a "market perform" rating for the company in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $98.50.

Wells Fargo & Company 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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