Hilltop National Bank Takes $1.35 Million Position in Wells Fargo & Company $WFC

Hilltop National Bank purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the second quarter, HoldingsChannel.com reports. The fund purchased 16,795 shares of the financial services provider’s stock, valued at approximately $1,346,000.

A number of other institutional investors also recently modified their holdings of WFC. CBIZ Investment Advisory Services LLC raised its position in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the period. Motco raised its position in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares during the period. Accent Capital Management LLC bought a new position in shares of Wells Fargo & Company in the first quarter valued at approximately $29,000. 1248 Management LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter worth $31,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter worth $34,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.5%

WFC opened at $80.47 on Friday. Wells Fargo & Company has a fifty-two week low of $54.40 and a fifty-two week high of $86.65. 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’s fifty day moving average price is $80.84 and its two-hundred day moving average price is $76.22. The company has a market capitalization of $257.79 billion, a P/E ratio of 13.78, a P/E/G ratio of 1.25 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates 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 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 previous year, the company earned $1.33 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a dividend of $0.45 per share. This is an increase 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 2.2%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is presently 30.82%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WFC. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Truist Financial raised their price objective on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Finally, The Goldman Sachs Group lowered their price objective on shares of 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. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.