Scott & Selber Inc. Raises Stock Holdings in Wells Fargo & Company $WFC

Scott & Selber Inc. lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,412 shares of the financial services provider’s stock after acquiring an additional 170 shares during the period. Scott & Selber Inc.’s holdings in Wells Fargo & Company were worth $2,437,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC increased its stake in Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after purchasing an additional 25,436 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Company by 8.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 53,680 shares of the financial services provider’s stock worth $3,854,000 after buying an additional 4,379 shares during the last quarter. Abner Herrman & Brock LLC grew its holdings in shares of Wells Fargo & Company by 1.9% during the first quarter. Abner Herrman & Brock LLC now owns 288,512 shares of the financial services provider’s stock worth $20,712,000 after buying an additional 5,388 shares during the last quarter. Mirador Capital Partners LP increased its position in Wells Fargo & Company by 3.5% in the 1st quarter. Mirador Capital Partners LP now owns 5,292 shares of the financial services provider’s stock valued at $380,000 after acquiring an additional 181 shares during the period. Finally, Czech National Bank raised its stake in Wells Fargo & Company by 4.7% during the 1st quarter. Czech National Bank now owns 755,410 shares of the financial services provider’s stock valued at $54,231,000 after acquiring an additional 33,712 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock opened at $85.01 on Monday. The firm has a 50 day moving average of $80.84 and a 200-day moving average of $75.97. Wells Fargo & Company has a 12-month low of $54.40 and a 12-month high of $86.65. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The company has a market cap of $272.32 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.31 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same quarter in the prior year, the firm posted $1.33 EPS. The company’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a $0.45 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 30.82%.

Wall Street Analysts Forecast Growth

WFC has been the topic of several analyst reports. Truist Financial lifted their target price on Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Citigroup lifted their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Finally, Raymond James Financial lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Ten investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and an average price target of $82.97.

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.