Talon Private Wealth LLC Buys New Shares in Wells Fargo & Company $WFC

Talon Private Wealth LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 31,477 shares of the financial services provider’s stock, valued at approximately $2,506,000.

Several other large investors have also made changes to their positions in the company. Nixon Peabody Trust Co. raised its holdings in shares of Wells Fargo & Company by 3.6% in the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 115 shares during the period. Simmons Bank grew its holdings in shares of Wells Fargo & Company by 1.9% during the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 116 shares during the period. Moss Adams Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Company by 1.0% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 117 shares during the period. Wood Tarver Financial Group LLC increased its position in Wells Fargo & Company by 1.6% during the 4th quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider’s stock worth $722,000 after purchasing an additional 120 shares in the last quarter. Finally, Mine & Arao Wealth Creation & Management LLC. increased its position in Wells Fargo & Company by 0.4% during the 4th quarter. Mine & Arao Wealth Creation & Management LLC. now owns 32,410 shares of the financial services provider’s stock worth $3,021,000 after purchasing an additional 122 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on WFC. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Robert W. Baird increased their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. KGI Securities downgraded Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.50.

Wells Fargo & Company Trading Down 0.5%

Shares of WFC opened at $86.86 on Wednesday. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The stock has a 50-day moving average price of $83.22 and a 200 day moving average price of $83.30. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $265.82 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.95 and a beta of 0.92.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 annualized dividend and a yield of 2.3%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio (DPR) is 26.16%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.