Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Wells Fargo & Company (NYSE:WFC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 226,394 shares of the financial services provider’s stock, valued at approximately $18,023,000.
A number of other large investors also recently added to or reduced their stakes in the stock. Private Wealth Group LLC lifted its holdings in Wells Fargo & Company by 2.5% during the fourth quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 108 shares in the last quarter. Nixon Peabody Trust Co. increased its stake in shares of Wells Fargo & Company by 3.6% during the fourth quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 115 shares in the last quarter. Simmons Bank increased its stake in shares of Wells Fargo & Company by 1.9% during the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 116 shares in the last quarter. Moss Adams Wealth Advisors LLC raised its position in shares of Wells Fargo & Company by 1.0% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 117 shares during the last quarter. Finally, 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 worth $722,000 after purchasing an additional 120 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.
Wells Fargo & Company Stock Up 0.4%
WFC stock opened at $87.89 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average of $81.20 and a two-hundred day moving average of $83.74. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The company has a market cap of $268.98 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.00 and a beta of 0.92.
Wells Fargo & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a dividend of $0.45 per share. The ex-dividend date was Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.0%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 26.16%.
More Wells Fargo & Company News
Here are the key news stories impacting Wells Fargo & Company this week:
- Positive Sentiment: Wells Fargo’s Q2 results topped expectations, helped by stronger lending activity, higher net interest income, and solid fee growth, which has reinforced the view that the bank is benefiting from a supportive operating backdrop. Wells Fargo (WFC) Had a Better Q2 than the Market Expected
- Positive Sentiment: The company also announced plans to increase its third-quarter common dividend by 11% to $0.50 per share, reinforcing capital-return appeal for income-focused investors. Wells Fargo intends to hike Q3 common stock dividend by 11% to $0.50
- Positive Sentiment: Several analysts remain upbeat, with one reiterating a Buy rating and keeping a $102 price target, citing re-rating potential after the earnings beat. Wells Fargo: Buy Rating Reiterated as Analyst Sees Re-Rating Potential and Keeps $102 Price Target Unchanged
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. UBS Group lowered their price objective on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. HSBC upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, April 1st. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Finally, Keefe, Bruyette & Woods dropped their price target on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $98.50.
Read Our Latest Stock Analysis on Wells Fargo & Company
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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