Wells Fargo & Company $WFC Shares Purchased by Mufg Securities Americas Inc.

Mufg Securities Americas Inc. raised its position in Wells Fargo & Company (NYSE:WFC) by 8.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,193 shares of the financial services provider’s stock after acquiring an additional 8,150 shares during the quarter. Mufg Securities Americas Inc.’s holdings in Wells Fargo & Company were worth $8,363,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Godfrey Financial Associates Inc. purchased a new position in Wells Fargo & Company in the 4th quarter valued at about $25,000. Miller Capital Partners Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $25,000. Navalign LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $26,000. Core Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth about $29,000. Finally, Strive Financial Group LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth about $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $86.62 on Friday. 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 company has a market capitalization of $261.94 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The business has a 50 day simple moving average of $86.27 and a 200-day simple moving average of $82.71.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.23. The firm had revenue of $22.62 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business posted $1.60 earnings per share. As a group, equities research analysts expect that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.07%.

Wells Fargo & Company News Summary

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Wells Fargo is reportedly seeking to recruit hundreds of independent financial advisers, expanding its Wealth & Investment Management division and targeting affluent and high-net-worth clients. The initiative builds on a multiyear overhaul and could support fee-based revenue, asset growth and deeper customer relationships. WFC Broadens Wealth Focus: Can Its Multi-Year Revamp Drive Growth?
• Positive Sentiment: The wealth-management push follows an approximately $1.5 billion revamp and emphasizes independent advisers who can use Wells Fargo’s platform and infrastructure. Successful hiring and retention could improve the division’s long-term growth prospects, although benefits will take time to materialize. Wells Fargo Steps Up Wealth Hiring After $1.5 Billion Revamp
• Neutral Sentiment: Analysts collectively maintain a “Moderate Buy” recommendation for Wells Fargo. The rating indicates generally constructive sentiment, but it does not represent a new earnings forecast or a clearly identifiable catalyst. Wells Fargo Given Average Recommendation of Moderate Buy by Analysts
• Neutral Sentiment: A market-focused report noted that WFC advanced even as the broader market declined, suggesting relative investor support. The article did not identify a major new earnings announcement, guidance change or regulatory development behind the move. Wells Fargo Gains As Market Dips: What You Should Know

Analysts Set New Price Targets

A number of brokerages have weighed in on WFC. Raymond James Financial restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. UBS Group cut their target price on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Finally, Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. 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 company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus target price of $98.61.

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.