Hoese & Co LLP grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 61.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,174 shares of the financial services provider’s stock after buying an additional 445 shares during the quarter. Hoese & Co LLP’s holdings in Wells Fargo & Company were worth $94,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McElhenny Sheffield Capital Management LLC purchased a new stake in Wells Fargo & Company in the second quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC raised its position in shares of Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the period. Accent Capital Management LLC bought a new stake in shares of Wells Fargo & Company during the 1st quarter valued at $29,000. Motco raised its position in shares of Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares during the period. Finally, Nova Wealth Management Inc. increased its holdings in Wells Fargo & Company by 112.9% in the 2nd quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.
Wells Fargo & Company Stock Performance
Wells Fargo & Company stock opened at $83.25 on Friday. The company’s 50-day moving average price is $81.21 and its 200-day moving average price is $76.90. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a market cap of $266.70 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.16 and a beta of 1.25.
Wells Fargo & Company Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a $0.45 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Wells Fargo & Company’s payout ratio is presently 29.61%.
Analyst Ratings Changes
A number of analysts have issued reports on the stock. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Citigroup lifted their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Finally, Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday. Nine research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and an average target price of $89.57.
Read Our Latest Analysis on WFC
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.
Read More
- Five stocks we like better than Wells Fargo & Company
- Manufacturing Stocks Investing
- This AI Chip Giant Could Be the Market’s Next Big Winner
- Best Aerospace Stocks Investing
- Broadcom Inks OpenAI Deal: Why It’s A Huge Win for AVGO Stock
- What Are Trending Stocks? Trending Stocks Explained
- Institutions Are Fueling CrowdStrike’s Next Leg Higher
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).
Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.