TD Waterhouse Canada Inc. boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 8.7% in the second quarter, HoldingsChannel.com reports. The firm owned 209,307 shares of the financial services provider’s stock after acquiring an additional 16,673 shares during the period. TD Waterhouse Canada Inc.’s holdings in Wells Fargo & Company were worth $17,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in WFC. Nixon Peabody Trust Co. grew its position in shares of Wells Fargo & Company by 3.6% during the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock valued at $312,000 after buying an additional 115 shares during the last quarter. MFA Wealth Services raised its stake in Wells Fargo & Company by 0.7% during the second quarter. MFA Wealth Services now owns 16,712 shares of the financial services provider’s stock worth $1,381,000 after acquiring an additional 115 shares during the period. Simmons Bank lifted its holdings in Wells Fargo & Company by 1.9% in the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 116 shares during the last quarter. Wood Tarver Financial Group LLC boosted its stake in Wells Fargo & Company by 1.6% in the fourth quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider’s stock valued at $722,000 after acquiring an additional 120 shares during the period. Finally, Hidden Cove Wealth Management LLC boosted its stake in Wells Fargo & Company by 1.8% in the second quarter. Hidden Cove Wealth Management LLC now owns 6,846 shares of the financial services provider’s stock valued at $566,000 after acquiring an additional 124 shares during the period. Institutional investors own 75.90% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on WFC shares. Keefe, Bruyette & Woods lowered their target price on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a report on Wednesday, July 15th. Robert W. Baird raised their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Truist Financial boosted their price objective on Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Finally, Bank of America increased their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.61.
Wells Fargo & Company Price Performance
Shares of NYSE:WFC opened at $89.90 on Friday. The firm’s 50 day moving average is $86.69 and its two-hundred day moving average is $82.66. The firm has a market capitalization of $271.86 billion, a P/E ratio of 13.07, a PEG ratio of 0.97 and a beta of 0.92. 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 52 week low of $72.78 and a 52 week high of $97.76.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) 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 business had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the previous year, the firm posted $1.60 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. Analysts anticipate that Wells Fargo & Company will post 7.26 earnings per share for the current year.
Wells Fargo & Company Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th were given a dividend of $0.50 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. Wells Fargo & Company’s payout ratio is presently 29.07%.
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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