Texas Bank & Trust Co Purchases Shares of 3,120 Wells Fargo & Company $WFC

Texas Bank & Trust Co acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,120 shares of the financial services provider’s stock, valued at approximately $250,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WFC. Accretive Wealth Partners LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter worth approximately $399,000. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Wells Fargo & Company by 10.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock valued at $54,471,000 after purchasing an additional 71,740 shares during the last quarter. Secured Retirement Advisors LLC acquired a new position in Wells Fargo & Company in the 1st quarter valued at $408,000. Three Bridge Wealth Advisors LLC purchased a new position in Wells Fargo & Company in the 2nd quarter valued at $364,000. Finally, Allianz SE boosted its stake in Wells Fargo & Company by 22.6% during the 1st quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock worth $15,244,000 after purchasing an additional 39,150 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $87.19 on Monday. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $87.47. The stock’s fifty day moving average is $82.75 and its two-hundred day moving average is $78.69. The company has a market capitalization of $279.30 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.18 and a beta of 1.25. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same period last year, the company earned $1.42 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Equities 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. Stockholders of record on Friday, November 7th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WFC. The Goldman Sachs Group reduced their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. UBS Group dropped their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, October 15th. Cfra Research upgraded Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Finally, Barclays raised their target price on Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus 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.