Temasek Holdings Private Ltd Invests $69.60 Million in Wells Fargo & Company $WFC

Key Points

• Temasek Holdings has purchased a new stake in Wells Fargo, acquiring 969,519 shares valued at approximately $69.6 million during the first quarter.
• Wells Fargo's latest earnings report indicated earnings per share of $1.54, exceeding the consensus estimate of $1.41, along with a revenue of $20.82 billion.
• The company announced a quarterly dividend increase to $0.45 per share, resulting in a 2.3% dividend yield, up from the previous $0.40 dividend.

Temasek Holdings Private Ltd bought a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 969,519 shares of the financial services provider's stock, valued at approximately $69,602,000.

A number of other large investors also recently modified their holdings of the stock. Talon Private Wealth LLC lifted its holdings in shares of Wells Fargo & Company by 3,463.7% in the first quarter. Talon Private Wealth LLC now owns 28,545 shares of the financial services provider's stock valued at $2,073,000 after purchasing an additional 27,744 shares in the last quarter. Teewinot Capital Advisers L.L.C. increased its position in Wells Fargo & Company by 13.4% in the first quarter. Teewinot Capital Advisers L.L.C. now owns 628,205 shares of the financial services provider's stock worth $45,099,000 after buying an additional 74,445 shares during the last quarter. Royal Capital Wealth Management LLC increased its position in Wells Fargo & Company by 2.9% in the first quarter. Royal Capital Wealth Management LLC now owns 13,073 shares of the financial services provider's stock worth $939,000 after buying an additional 374 shares during the last quarter. Parkwood LLC purchased a new stake in Wells Fargo & Company in the first quarter worth $9,784,000. Finally, Permanens Capital L.P. increased its position in Wells Fargo & Company by 21.4% in the first quarter. Permanens Capital L.P. now owns 7,644 shares of the financial services provider's stock worth $549,000 after buying an additional 1,346 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded up $0.25 during midday trading on Monday, hitting $79.21. 17,105,057 shares of the company's stock were exchanged, compared to its average volume of 12,669,898. Wells Fargo & Company has a 52-week low of $50.22 and a 52-week high of $84.83. The stock has a 50-day moving average price of $80.52 and a two-hundred day moving average price of $75.01. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market cap of $253.73 billion, a P/E ratio of 13.56, a PEG ratio of 1.23 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping 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 analysts' expectations of $20.83 billion. During the same period in the previous year, the business earned $1.33 earnings per share. The firm's revenue was up .6% on a year-over-year basis. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced 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. The ex-dividend date was Friday, August 8th. 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 yield of 2.3%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 30.82%.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of analyst reports. Raymond James Financial lowered Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 7th. Evercore ISI reiterated an "outperform" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Bank of America boosted their price objective on Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Truist Financial boosted their price objective on Wells Fargo & Company from $83.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Dbs Bank upgraded Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to 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.