Westwood Holdings Group Inc. Purchases 29,831 Shares of Wells Fargo & Company $WFC

Westwood Holdings Group Inc. raised its position in Wells Fargo & Company (NYSE:WFC) by 2.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,217,182 shares of the financial services provider’s stock after acquiring an additional 29,831 shares during the quarter. Wells Fargo & Company makes up 0.9% of Westwood Holdings Group Inc.’s portfolio, making the stock its 28th biggest holding. Westwood Holdings Group Inc.’s holdings in Wells Fargo & Company were worth $97,521,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WFC. Access Investment Management LLC purchased a new position in shares of Wells Fargo & Company during the 2nd quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its holdings 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 worth $27,000 after purchasing an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Wells Fargo & Company during the 2nd quarter worth approximately $27,000. Motco grew its stake in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after buying an additional 326 shares in the last quarter. Finally, Accent Capital Management LLC bought a new stake in Wells Fargo & Company during the first quarter worth approximately $29,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $84.98 on Friday. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $88.64. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s 50 day simple moving average is $83.71 and its 200-day simple moving average is $79.86. The stock has a market capitalization of $266.77 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.18. The company had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.42 EPS. 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. Shareholders of record on Friday, November 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company’s payout ratio is 29.61%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on WFC shares. Bank of America raised their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Citigroup raised their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Truist Financial raised their price objective on Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.57.

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.