Fidelis Capital Partners LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 29,300 shares of the financial services provider's stock, valued at approximately $1,112,000.
Several other large investors have also modified their holdings of WFC. Defender Capital LLC. bought a new position in Wells Fargo & Company during the first quarter worth $246,000. Fairfield Bush & CO. bought a new position in Wells Fargo & Company during the first quarter worth $124,000. Dakota Wealth Management bought a new position in Wells Fargo & Company during the first quarter worth $222,000. Candriam Luxembourg S.C.A. lifted its stake in Wells Fargo & Company by 0.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 273,936 shares of the financial services provider's stock worth $13,274,000 after purchasing an additional 770 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its holdings in Wells Fargo & Company by 24.5% in the first quarter. Zions Bancorporation N.A. now owns 9,630 shares of the financial services provider's stock worth $467,000 after acquiring an additional 1,895 shares during the last quarter. Institutional investors own 72.11% of the company's stock.
Wells Fargo & Company Price Performance
Shares of WFC stock traded up $0.06 during midday trading on Friday, reaching $43.73. 7,053,610 shares of the company were exchanged, compared to its average volume of 21,196,852. Wells Fargo & Company has a 12 month low of $35.25 and a 12 month high of $48.84. The company has a market cap of $164.08 billion, a P/E ratio of 10.92, a PEG ratio of 0.88 and a beta of 1.13. The company's 50 day moving average price is $43.41 and its two-hundred day moving average price is $42.39. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 0.84.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.09. Wells Fargo & Company had a return on equity of 11.15% and a net margin of 16.18%. The company had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same quarter in the previous year, the business earned $0.74 EPS. The company's quarterly revenue was up 20.5% compared to the same quarter last year. On average, sell-side analysts expect that Wells Fargo & Company will post 4.86 earnings per share for the current year.
Wells Fargo & Company Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Thursday, August 3rd. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.30. Wells Fargo & Company's payout ratio is currently 35.00%.
Analyst Ratings Changes
WFC has been the topic of a number of recent research reports. Citigroup raised their target price on shares of Wells Fargo & Company from $50.00 to $52.00 in a report on Sunday, July 16th. Raymond James raised their target price on shares of Wells Fargo & Company from $48.00 to $51.00 and gave the stock a "strong-buy" rating in a report on Monday, July 3rd. VNET Group reissued a "maintains" rating on shares of Wells Fargo & Company in a report on Monday, June 26th. Wolfe Research cut shares of Wells Fargo & Company from an "outperform" rating to a "peer perform" rating in a report on Friday, July 7th. Finally, The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $46.00 to $49.00 in a research note on Friday, April 14th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and an average price target of $48.62.
Read Our Latest Research Report on WFC
Wells Fargo & Company Company Profile
(
Free Report)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
Read More
Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Wells Fargo & Company, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wells Fargo & Company wasn't on the list.
While Wells Fargo & Company currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
