Knuff & Co LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,292 shares of the financial services provider’s stock, valued at approximately $1,181,000.
Other institutional investors have also recently made changes to their positions in the company. Godfrey Financial Associates Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Miller Capital Partners Inc. bought a new position in Wells Fargo & Company in the 4th quarter worth $25,000. Navalign LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at $26,000. Joseph Group Capital Management bought a new stake in Wells Fargo & Company during the fourth quarter valued at about $28,000. Finally, Phillip James Consulting Co. bought a new position in shares of Wells Fargo & Company in the first quarter worth about $28,000. Institutional investors own 75.90% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have weighed in on WFC shares. UBS Group lowered their price target on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Morgan Stanley increased their target price on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. Bank of America lifted their price target on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.61.
Wells Fargo & Company Stock Down 0.0%
Shares of NYSE:WFC opened at $83.83 on Monday. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The business has a 50 day simple moving average of $86.08 and a two-hundred day simple moving average of $82.91. The firm has a market capitalization of $253.50 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 0.91 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The firm had revenue of $22.62 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the prior year, the business posted $1.60 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities analysts predict that Wells Fargo & Company will post 7.26 EPS for the current year.
Wells Fargo & Company Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a $0.50 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 annualized dividend and a yield of 2.4%. Wells Fargo & Company’s dividend payout ratio is currently 29.07%.
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.
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