Free Trial

Zions Bancorporation National Association UT Acquires Shares of 8,200 Wells Fargo & Company (NYSE:WFC)

Wells Fargo & Company logo with Finance background

Key Points

  • Zions Bancorporation has acquired 8,200 shares of Wells Fargo & Company, valued at approximately $589,000, during the first quarter.
  • Wells Fargo recently increased its quarterly dividend to $0.45, up from $0.40, representing a yield of 2.3% on an annualized basis.
  • Analysts have given Wells Fargo's stock an average rating of "Moderate Buy" with a target price of $80.39, reflecting a mix of buy, hold, and sell recommendations.
  • Want stock alerts on Wells Fargo & Company? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Zions Bancorporation National Association UT bought a new stake in Wells Fargo & Company (NYSE:WFC) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,200 shares of the financial services provider's stock, valued at approximately $589,000.

Several other institutional investors have also modified their holdings of the stock. Savvy Advisors Inc. grew its position in shares of Wells Fargo & Company by 12.4% in the first quarter. Savvy Advisors Inc. now owns 12,793 shares of the financial services provider's stock valued at $918,000 after purchasing an additional 1,408 shares during the period. WBH Advisory Inc. acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at about $201,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Wells Fargo & Company by 10.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,009,440 shares of the financial services provider's stock valued at $431,418,000 after purchasing an additional 544,473 shares during the period. Y.D. More Investments Ltd grew its position in shares of Wells Fargo & Company by 10.2% in the first quarter. Y.D. More Investments Ltd now owns 4,862 shares of the financial services provider's stock valued at $349,000 after purchasing an additional 449 shares during the period. Finally, Evernest Financial Advisors LLC grew its position in shares of Wells Fargo & Company by 18.0% in the first quarter. Evernest Financial Advisors LLC now owns 6,304 shares of the financial services provider's stock valued at $453,000 after purchasing an additional 963 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. TD Cowen assumed coverage on shares of Wells Fargo & Company in a research report on Thursday, May 15th. They issued a "hold" rating and a $83.00 target price on the stock. Evercore ISI restated an "outperform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Piper Sandler restated an "overweight" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Dbs Bank upgraded shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Finally, Citigroup restated a "neutral" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $80.39.

Check Out Our Latest Report on Wells Fargo & Company

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $77.78 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market capitalization of $249.16 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 1.21 and a beta of 1.20. The company's 50-day moving average is $78.92 and its two-hundred day moving average is $74.95. Wells Fargo & Company has a 1-year low of $50.22 and a 1-year high of $84.83.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.33 EPS. Analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Friday, August 8th will be paid a $0.45 dividend. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. Wells Fargo & Company's payout ratio is presently 27.40%.

Wells Fargo & Company announced that its board has initiated a share repurchase plan on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 17.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Wells Fargo & Company Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Free Report).

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Wells Fargo & Company Right Now?

Before you consider Wells Fargo & Company, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wells Fargo & Company wasn't on the list.

While Wells Fargo & Company currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Best High-Yield Dividend Stocks for 2025 Cover

Discover the 10 Best High-Yield Dividend Stocks for 2025 and secure reliable income in uncertain markets. Download the report now to identify top dividend payers and avoid common yield traps.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Growth Stocks That Could Pop Before Summer Ends
3 Buy-the-Dip Stocks Poised to Rebound Soon
Quantum Boom: 3 Strong Picks with Lower Risk

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines