Zions Bancorporation National Association UT Grows Stock Holdings in Wells Fargo & Company $WFC

Zions Bancorporation National Association UT grew its holdings in Wells Fargo & Company (NYSE:WFC) by 13.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,268 shares of the financial services provider’s stock after purchasing an additional 1,068 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Wells Fargo & Company were worth $743,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Brighton Jones LLC increased its stake in shares of Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after acquiring an additional 25,436 shares during the last quarter. Fortem Financial Group LLC grew its holdings in shares of Wells Fargo & Company by 2.3% in the first quarter. Fortem Financial Group LLC now owns 6,759 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 150 shares during the period. BankPlus Trust Department increased its position in Wells Fargo & Company by 105.6% during the first quarter. BankPlus Trust Department now owns 1,028 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 528 shares during the last quarter. Westmount Partners LLC raised its stake in Wells Fargo & Company by 0.9% during the first quarter. Westmount Partners LLC now owns 31,626 shares of the financial services provider’s stock worth $2,270,000 after purchasing an additional 274 shares during the period. Finally, High Note Wealth LLC raised its stake in Wells Fargo & Company by 60.1% during the first quarter. High Note Wealth LLC now owns 1,089 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 409 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Bank of America increased their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Keefe, Bruyette & Woods lifted their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, October 15th. Citigroup upped their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Finally, Morgan Stanley increased their price target on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Price Performance

WFC stock opened at $86.05 on Monday. The business’s fifty day moving average price is $83.25 and its 200 day moving average price is $79.44. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $88.50. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $270.11 billion, a PE ratio of 14.15, a P/E/G ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.11. The company had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.Wells Fargo & Company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.42 EPS. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a $0.45 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is 29.61%.

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.