Wells Fargo & Company $WFC is DMKC Advisory Services LLC's 5th Largest Position

Key Points

• DMKC Advisory Services LLC increased its position in Wells Fargo & Company by 42.9% during the second quarter, making it the fund's 5th largest position, with holdings valued at $6.45 million.
• Wells Fargo reported an earnings per share (EPS) of $1.54 for the most recent quarter, beating analysts' estimates by 13 cents, despite a slight year-over-year revenue increase of 0.6%.
• The company recently raised its quarterly dividend to $0.45 per share, reflecting a 2.2% yield and a payout ratio of 30.82%.

DMKC Advisory Services LLC increased its position in Wells Fargo & Company (NYSE:WFC) by 42.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,963 shares of the financial services provider's stock after buying an additional 24,299 shares during the quarter. Wells Fargo & Company accounts for 3.4% of DMKC Advisory Services LLC's portfolio, making the stock its 5th largest position. DMKC Advisory Services LLC's holdings in Wells Fargo & Company were worth $6,454,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider's stock valued at $76,095,550,000 after purchasing an additional 949,735,001 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Wells Fargo & Company by 277.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock valued at $771,092,000 after buying an additional 7,894,919 shares during the period. Strs Ohio purchased a new stake in Wells Fargo & Company during the first quarter valued at about $109,643,000. Canada Pension Plan Investment Board boosted its position in Wells Fargo & Company by 34.6% during the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider's stock valued at $381,016,000 after buying an additional 1,365,629 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Wells Fargo & Company by 30.5% during the first quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider's stock valued at $353,668,000 after buying an additional 1,152,181 shares during the period. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $80.94 on Thursday. The stock has a fifty day moving average of $80.91 and a 200 day moving average of $76.15. Wells Fargo & Company has a 52 week low of $54.40 and a 52 week high of $86.65. The firm has a market capitalization of $259.28 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.29 and a beta of 1.25. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06.

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

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was 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%.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of recent research reports. Bank of America boosted their target price 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. Phillip Securities cut Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Truist Financial raised their target price on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Morgan Stanley cut shares of Wells Fargo & Company from an "overweight" rating to an "equal weight" rating and raised their target price for the stock from $87.00 to $90.00 in a report on Monday. Finally, Cowen restated a "hold" rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $83.74.

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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