Talon Private Wealth LLC Buys 27,744 Shares of Wells Fargo & Company $WFC

Key Points

• Talon Private Wealth LLC increased its holdings in Wells Fargo by 3,463.7% during the first quarter, acquiring an additional 27,744 shares, bringing their total to 28,545 shares valued at $2,073,000.
• Wells Fargo reported a Q2 EPS of $1.54, surpassing analysts' expectations of $1.41, and recorded a revenue of $20.82 billion, which was slightly below the anticipated $20.83 billion.
• The company has announced a quarterly dividend increase to $0.45 per share, representing an annual yield of 2.3%, up from the previous dividend of $0.40.

Talon Private Wealth LLC raised its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 3,463.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,545 shares of the financial services provider's stock after acquiring an additional 27,744 shares during the period. Talon Private Wealth LLC's holdings in Wells Fargo & Company were worth $2,073,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of WFC. Massachusetts Financial Services Co. MA boosted its stake in Wells Fargo & Company by 277.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock worth $771,092,000 after purchasing an additional 7,894,919 shares in the last quarter. GAMMA Investing LLC boosted its stake in Wells Fargo & Company by 7,887.9% in the first quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider's stock worth $243,589,000 after purchasing an additional 3,350,605 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Wells Fargo & Company in the fourth quarter worth $198,801,000. Theleme Partners LLP acquired a new position in Wells Fargo & Company in the fourth quarter worth $187,049,000. Finally, Zurich Insurance Group Ltd FI acquired a new position in Wells Fargo & Company in the fourth quarter worth $117,280,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analyst Weigh In

WFC has been the topic of a number of recent analyst reports. Piper Sandler reissued an "overweight" 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 stock a "buy" rating in a research note on Wednesday, June 4th. TD Cowen initiated coverage on Wells Fargo & Company in a research note on Thursday, May 15th. They issued a "hold" rating and a $83.00 price objective on the stock. Cowen reaffirmed a "hold" rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Finally, The Goldman Sachs Group cut their price target on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of "Moderate Buy" and an average price target of $82.56.

Wells Fargo & Company Trading Up 0.3%

Shares of WFC traded up $0.25 during trading hours on Monday, hitting $79.21. 17,105,057 shares of the stock traded hands, compared to its average volume of 12,669,898. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 1-year low of $50.22 and a 1-year high of $84.83. The firm has a market capitalization of $253.73 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.23 and a beta of 1.25. The business has a fifty day moving average of $80.52 and a 200-day moving average of $75.01.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) 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 analyst estimates of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 earnings per share. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

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

Wells Fargo & Company 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.