Wells Fargo & Company $WFC Position Increased by Sather Financial Group Inc

Key Points

• Sather Financial Group Inc increased its position in Wells Fargo & Company by 37.6%, owning 13,007 shares worth approximately $1,042,000 at the end of the second quarter.
• The company has recently declared a quarterly dividend of $0.45 per share, reflecting an increase from the previous $0.40, with a current yield of 2.3%.
• Wells Fargo reported $1.54 EPS for the latest quarter, surpassing analysts' expectations, and had a return on equity of 12.29%.

Sather Financial Group Inc raised its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 37.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,007 shares of the financial services provider's stock after buying an additional 3,556 shares during the quarter. Sather Financial Group Inc's holdings in Wells Fargo & Company were worth $1,042,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Accretive Wealth Partners LLC purchased a new stake in Wells Fargo & Company during the first quarter valued at about $399,000. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Wells Fargo & Company by 10.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider's stock valued at $54,471,000 after purchasing an additional 71,740 shares during the period. Secured Retirement Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 1st quarter valued at about $408,000. RKL Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 166.4% in the 1st quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider's stock valued at $588,000 after purchasing an additional 5,113 shares during the period. Finally, Three Bridge Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 2nd quarter valued at about $364,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 2.7%

NYSE:WFC opened at $77.74 on Friday. The stock's 50 day moving average price is $80.63 and its 200 day moving average price is $76.53. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $86.65. The company has a market capitalization of $249.04 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.25 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the prior year, the company posted $1.33 earnings per share. The firm's revenue was up .6% on a year-over-year basis. On average, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.3%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. Wells Fargo & Company's dividend payout ratio is 30.82%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WFC. Phillip Securities downgraded Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. Weiss Ratings upgraded Wells Fargo & Company from a "hold (c)" rating to a "buy (b)" rating in a report on Wednesday. Piper Sandler reiterated an "overweight" 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. Finally, Cowen reiterated a "hold" rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.41.

About Wells Fargo & Company

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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