Sather Financial Group Inc Has $1.04 Million Stock Holdings in Wells Fargo & Company $WFC

Sather Financial Group Inc raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 37.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 13,007 shares of the financial services provider’s stock after purchasing an additional 3,556 shares during the quarter. Sather Financial Group Inc’s holdings in Wells Fargo & Company were worth $1,042,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFC. Brighton Jones LLC boosted its position in shares of Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after acquiring an additional 25,436 shares during the period. Harbor Capital Advisors Inc. boosted its position in shares of Wells Fargo & Company by 296.5% in the first quarter. Harbor Capital Advisors Inc. now owns 686 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 513 shares during the period. GAMMA Investing LLC boosted its position in shares of Wells Fargo & Company by 11.3% in the first quarter. GAMMA Investing LLC now owns 47,264 shares of the financial services provider’s stock valued at $3,393,000 after acquiring an additional 4,786 shares during the period. West Branch Capital LLC boosted its position in shares of Wells Fargo & Company by 28.5% in the first quarter. West Branch Capital LLC now owns 22,091 shares of the financial services provider’s stock valued at $1,586,000 after acquiring an additional 4,904 shares during the period. Finally, Elevation Point Wealth Partners LLC boosted its position in shares of Wells Fargo & Company by 16.3% in the first quarter. Elevation Point Wealth Partners LLC now owns 33,210 shares of the financial services provider’s stock valued at $2,384,000 after acquiring an additional 4,643 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 2.7%

Shares of WFC stock opened at $77.74 on Friday. The stock has a market cap of $249.04 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 1.25 and a beta of 1.25. Wells Fargo & Company has a one year low of $58.42 and a one year high of $86.65. The stock has a fifty day moving average price of $80.63 and a 200 day moving average price of $76.53. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83.

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

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a dividend of $0.45 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is currently 30.82%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WFC. Truist Financial increased their price objective on Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Morgan Stanley cut Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $87.00 to $90.00 in a research report on Monday, September 29th. Dbs Bank raised Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Raymond James Financial cut Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Finally, Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $85.41.

About Wells Fargo & Company

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.