May Hill Capital LLC Makes New $245,000 Investment in Wells Fargo & Company $WFC

May Hill Capital LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the second quarter, HoldingsChannel reports. The firm purchased 3,064 shares of the financial services provider’s stock, valued at approximately $245,000.

A number of other institutional investors have also recently bought and sold shares of the business. CBIZ Investment Advisory Services LLC grew 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 last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $27,000. Motco boosted its stake 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 buying an additional 326 shares during the period. Accent Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $29,000. Finally, 1248 Management LLC bought a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group cut their price target on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Evercore ISI boosted their price target on Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, TD Cowen upped their target price on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $86.86 on Wednesday. The company has a market capitalization of $278.25 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.20 and a beta of 1.25. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47. The stock has a fifty day simple moving average of $82.27 and a 200 day simple moving average of $78.11. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the prior year, the business posted $1.42 earnings per share. Wells Fargo & Company’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is 29.61%.

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.