Headlands Technologies LLC acquired a new position in shares of 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 (SEC). The fund acquired 56,354 shares of the financial services provider’s stock, valued at approximately $4,657,000.
A number of other institutional investors and hedge funds have also bought and sold shares of WFC. Nixon Peabody Trust Co. grew its stake in Wells Fargo & Company by 3.6% in the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after buying an additional 115 shares in the last quarter. MFA Wealth Services increased its holdings in shares of Wells Fargo & Company by 0.7% in the 2nd quarter. MFA Wealth Services now owns 16,712 shares of the financial services provider’s stock worth $1,381,000 after buying an additional 115 shares during the last quarter. Simmons Bank raised its position in shares of Wells Fargo & Company by 1.9% during the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock valued at $593,000 after buying an additional 116 shares in the last quarter. Wood Tarver Financial Group LLC raised its position in shares of Wells Fargo & Company by 1.6% during the 4th quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider’s stock valued at $722,000 after buying an additional 120 shares in the last quarter. Finally, Hidden Cove Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 1.8% during the 2nd quarter. Hidden Cove Wealth Management LLC now owns 6,846 shares of the financial services provider’s stock worth $566,000 after acquiring an additional 124 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.
Wells Fargo & Company Stock Down 0.1%
Shares of NYSE:WFC opened at $86.62 on Monday. The stock has a market capitalization of $261.94 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92. The stock’s 50-day moving average price is $86.27 and its 200-day moving average price is $82.63. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76.
Wells Fargo & Company Increases Dividend
The business 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. The ex-dividend date is Friday, August 7th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.3%. Wells Fargo & Company’s dividend payout ratio is presently 29.07%.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on WFC shares. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Raymond James Financial reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. JPMorgan Chase & Co. upped their price objective on Wells Fargo & Company from $93.50 to $95.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Finally, Morgan Stanley raised their price objective on Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.61.
More Wells Fargo & Company News
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
Wells Fargo & Company 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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