Lawson Kroeker Investment Management Inc. NE Boosts Stock Holdings in Wells Fargo & Company $WFC

Lawson Kroeker Investment Management Inc. NE lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 6.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 29,445 shares of the financial services provider’s stock after acquiring an additional 1,771 shares during the quarter. Lawson Kroeker Investment Management Inc. NE’s holdings in Wells Fargo & Company were worth $2,359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of WFC. Advocate Group LLC purchased a new position in Wells Fargo & Company in the 2nd quarter valued at approximately $2,599,000. OFI Invest Asset Management bought a new position in shares of Wells Fargo & Company in the second quarter worth $39,616,000. Means Investment CO. Inc. grew its position in shares of Wells Fargo & Company by 2.7% in the second quarter. Means Investment CO. Inc. now owns 7,067 shares of the financial services provider’s stock valued at $566,000 after purchasing an additional 183 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at $40,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Wells Fargo & Company by 18.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 386,414 shares of the financial services provider’s stock worth $30,965,000 after purchasing an additional 61,496 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $77.74 on Friday. The company’s fifty day moving average price is $80.63 and its 200-day moving average price is $76.53. 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 $249.04 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.25 and a beta of 1.25. Wells Fargo & Company has a one year low of $58.42 and a one year high of $86.65.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same period in the previous year, the business earned $1.33 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio is presently 30.82%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent analyst reports. The Goldman Sachs Group reduced their target price on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Raymond James Financial lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday. Morgan Stanley lowered shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $87.00 to $90.00 in a research report on Monday, September 29th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Nine equities 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 $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.