Venture Visionary Partners LLC Grows Stock Position in Wells Fargo & Company $WFC

Key Points

• Venture Visionary Partners LLC has increased its stake in Wells Fargo & Company by 37.9%, now holding 35,870 shares valued at approximately $2.575 million.
• Wells Fargo recently announced an increase in its quarterly dividend to $0.45 per share, representing a 2.3% yield, up from the previous $0.40.
• The stock has received mixed ratings from analysts, with eleven giving it a Buy rating and a consensus price target of $81.58, amidst varying performance predictions.

Venture Visionary Partners LLC lifted its stake in Wells Fargo & Company (NYSE:WFC) by 37.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,870 shares of the financial services provider's stock after buying an additional 9,850 shares during the period. Venture Visionary Partners LLC's holdings in Wells Fargo & Company were worth $2,575,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. BNP Paribas purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth about $28,000. Accent Capital Management LLC purchased a new position in shares of Wells Fargo & Company in the first quarter worth about $29,000. Motco increased its holdings in shares of Wells Fargo & Company by 397.6% in the first 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. Parvin Asset Management LLC purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $32,000. Finally, Stone House Investment Management LLC purchased a new position in Wells Fargo & Company during the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Evercore ISI restated an "outperform" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Raymond James Financial downgraded Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 7th. Citigroup restated a "neutral" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. TD Cowen assumed coverage on Wells Fargo & Company in a report on Thursday, May 15th. They set a "hold" rating and a $83.00 price target on the stock. Finally, The Goldman Sachs Group reduced their price target on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Wells Fargo & Company currently has an average rating of "Moderate Buy" and a consensus target price of $81.58.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $77.4680 on Wednesday. The stock's 50 day simple moving average is $79.27 and its two-hundred day simple moving average is $74.95. 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 stock has a market cap of $248.16 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.20 and a beta of 1.20. Wells Fargo & Company has a fifty-two week low of $50.22 and a fifty-two week high of $84.83.

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 the consensus estimate of $1.41 by $0.13. The business had revenue of $20.82 billion for the quarter, compared to analysts' expectations of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business's revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.33 EPS. As a group, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company announced that its board has authorized a stock buyback plan on Tuesday, April 29th that permits the company to buyback $40.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 17.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Friday, August 8th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's payout ratio is presently 30.82%.

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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