Wesbanco Bank Inc. Increases Holdings in Wells Fargo & Company $WFC

Wesbanco Bank Inc. grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 18.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,222 shares of the financial services provider's stock after acquiring an additional 6,698 shares during the period. Wesbanco Bank Inc.'s holdings in Wells Fargo & Company were worth $3,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider's stock valued at $4,652,000 after buying an additional 25,436 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in Wells Fargo & Company by 3.7% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 24,075 shares of the financial services provider's stock valued at $1,691,000 after acquiring an additional 862 shares in the last quarter. Sentinus LLC raised its holdings in shares of Wells Fargo & Company by 22.5% in the fourth quarter. Sentinus LLC now owns 4,352 shares of the financial services provider's stock worth $306,000 after buying an additional 800 shares during the last quarter. Strategic Wealth Partners Ltd. purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth $188,000. Finally, Stonebrook Private Inc. grew its position in Wells Fargo & Company by 6.5% during the fourth quarter. Stonebrook Private Inc. now owns 4,039 shares of the financial services provider's stock valued at $284,000 after buying an additional 248 shares during the period. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $81.46 on Monday. Wells Fargo & Company has a 12-month low of $51.75 and a 12-month high of $84.83. The stock has a market capitalization of $260.95 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.27 and a beta of 1.25. The firm's 50-day moving average is $80.38 and its two-hundred day moving average is $75.14. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.13. The firm had revenue of $20.82 billion for the quarter, compared to analysts' expectations of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. Wells Fargo & Company's revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 earnings per share. Equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share 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. The ex-dividend date of this dividend was Friday, August 8th. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company's dividend payout ratio is currently 30.82%.

Analyst Ratings Changes

WFC has been the topic of a number of recent research reports. Phillip Securities lowered shares of Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Dbs Bank raised shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Evercore ISI reaffirmed an "outperform" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Bank of America boosted their price target on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Cowen restated a "hold" rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $82.56.

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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