W1M Asset Management Ltd Takes $511,000 Position in Wells Fargo & Company $WFC

W1M Asset Management Ltd purchased a new position in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,182 shares of the financial services provider’s stock, valued at approximately $511,000.

Several other institutional investors also recently added to or reduced their stakes in WFC. Nixon Peabody Trust Co. lifted its holdings in Wells Fargo & Company by 3.6% during the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock valued at $312,000 after buying an additional 115 shares in the last quarter. MFA Wealth Services grew its stake in Wells Fargo & Company by 0.7% in the 2nd quarter. MFA Wealth Services now owns 16,712 shares of the financial services provider’s stock worth $1,381,000 after acquiring an additional 115 shares in the last quarter. Simmons Bank increased its position in shares of Wells Fargo & Company by 1.9% during the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 116 shares during the period. Wood Tarver Financial Group LLC increased its position in shares of Wells Fargo & Company by 1.6% during the fourth quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider’s stock worth $722,000 after acquiring an additional 120 shares during the period. Finally, Hidden Cove Wealth Management LLC increased its position in shares of Wells Fargo & Company by 1.8% during the second quarter. Hidden Cove Wealth Management LLC now owns 6,846 shares of the financial services provider’s stock worth $566,000 after acquiring an additional 124 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.1%

WFC opened at $84.82 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The firm has a market cap of $256.51 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 0.92 and a beta of 0.92. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The stock has a fifty day moving average price of $86.11 and a 200-day moving average price of $82.79.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. The company had revenue of $22.62 billion for the quarter, compared to the consensus estimate of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 earnings per share. As a group, equities research analysts anticipate that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 7th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s payout ratio is presently 29.07%.

Analyst Ratings Changes

A number of analysts recently issued reports on WFC shares. UBS Group lowered their price target on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Robert W. Baird upped their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Truist Financial increased their price target on Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Finally, Raymond James Financial restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company Profile

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.