Triumph Capital Management Purchases 210 Shares of Wells Fargo & Company (NYSE:WFC)

Triumph Capital Management boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,912 shares of the financial services provider’s stock after acquiring an additional 210 shares during the quarter. Triumph Capital Management’s holdings in Wells Fargo & Company were worth $640,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in WFC. Investment Counsel Co. of Nevada purchased a new stake in Wells Fargo & Company during the fourth quarter worth $28,000. BNP Paribas acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $28,000. Parvin Asset Management LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth about $32,000. Dunhill Financial LLC boosted its stake in shares of Wells Fargo & Company by 63.7% in the fourth quarter. Dunhill Financial LLC now owns 496 shares of the financial services provider’s stock worth $35,000 after buying an additional 193 shares during the last quarter. Finally, Orion Capital Management LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $35,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $83.54 on Thursday. The firm’s 50 day moving average is $77.53 and its two-hundred day moving average is $74.42. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $83.95. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The company has a market cap of $271.84 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.28 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business’s revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $1.33 EPS. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Friday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 27.40%.

Wells Fargo & Company declared that its board has initiated a share repurchase plan on Tuesday, April 29th that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 17.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on WFC shares. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Evercore ISI reiterated an “outperform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. The Goldman Sachs Group dropped their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Truist Financial lifted their price objective on shares of Wells Fargo & Company from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Finally, Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $80.39.

Wells Fargo & Company 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.