WealthShield Partners LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 25,961 shares of the financial services provider's stock, valued at approximately $2,145,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Godfrey Financial Associates Inc. bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $25,000. Miller Capital Partners Inc. acquired a new position in Wells Fargo & Company in the fourth quarter worth about $25,000. Navalign LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $26,000. Joseph Group Capital Management bought a new position in Wells Fargo & Company during the fourth quarter worth about $28,000. Finally, Phillip James Consulting Co. acquired a new stake in Wells Fargo & Company during the first quarter valued at approximately $28,000. 75.90% of the stock is owned by institutional investors.
Wells Fargo & Company Price Performance
NYSE:WFC opened at $84.82 on Wednesday. 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 has a market cap of $256.51 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The company's 50-day moving average price is $86.11 and its two-hundred day moving average price is $82.79.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The company had revenue of $22.62 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same quarter last year, the business posted $1.60 earnings per share. The company's revenue was up 8.6% on a year-over-year basis. On average, equities analysts anticipate that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.
Wells Fargo & Company Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.45. Wells Fargo & Company's payout ratio is 29.07%.
Wall Street Analyst Weigh In
WFC has been the topic of several analyst reports. Robert W. Baird upped their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, May 7th. UBS Group decreased their price target on Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. Truist Financial upped their price target on Wells Fargo & Company from $90.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Finally, Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Sunday, June 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of "Moderate Buy" and an average target price of $98.61.
Check Out Our Latest Report on Wells Fargo & Company
About Wells Fargo & Company
(
Free Report)
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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