Wells Fargo & Company $WFC Stock Position Lifted by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH lifted its position in Wells Fargo & Company (NYSE:WFC) by 1.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 844,895 shares of the financial services provider’s stock after acquiring an additional 11,316 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Wells Fargo & Company were worth $69,822,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in WFC. Godfrey Financial Associates Inc. bought a new stake in Wells Fargo & Company during the fourth quarter valued at $25,000. Miller Capital Partners Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter worth about $25,000. Navalign LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter worth about $26,000. Joseph Group Capital Management acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $28,000. Finally, Phillip James Consulting Co. acquired a new position in shares of Wells Fargo & Company in the 1st quarter valued at about $28,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 0.7%

Shares of NYSE:WFC opened at $88.74 on Friday. The company has a market cap of $268.34 billion, a PE ratio of 12.90, a P/E/G ratio of 0.97 and a beta of 0.92. The company’s 50-day moving average price is $85.73 and its 200 day moving average price is $83.10. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The firm had revenue of $22.62 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same period in the previous year, the business posted $1.60 EPS. Wells Fargo & Company’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.07%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WFC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Morgan Stanley lifted their target price on Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Truist Financial upped their target price on Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, June 26th. JPMorgan Chase & Co. increased their price target on Wells Fargo & Company from $93.50 to $95.50 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $98.61.

Trending Headlines about Wells Fargo & Company

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Wells Fargo declared quarterly cash dividends on six series of preferred stock. The announcement provides clarity for income-focused investors and signals that the bank continues to support its preferred-capital structure. Wells Fargo & Company Declares Cash Dividends on Preferred Stock
• Positive Sentiment: Recent analysis suggests WFC could be about 10% undervalued despite strong gains over the past three months, supporting the view that valuation may still leave room for additional appreciation. Wells Fargo Could Be 10% Undervalued After Preferred Dividend Declaration
• Positive Sentiment: Investors have been rotating from weaker-performing artificial-intelligence stocks into financials, creating a favorable sector backdrop for Wells Fargo and other banks. Risk-On Momentum in Bank Stocks Echoes Aftermath of Dot-Com Bust
• Positive Sentiment: Wells Fargo’s latest earnings exceeded expectations, with $1.96 in earnings per share and $22.62 billion in revenue, while revenue grew 8.6% year over year. Analysts continue to focus on potential net-interest-income growth, asset-cap removal and increased capital returns. WFC Stock Gains 20.5% in 3 Months: Buy, Hold or Sell the Stock Now?
• Neutral Sentiment: The bank is expanding its post-asset-cap strategy through tokenized deposits for corporate clients and new long-term debt and depositary-share offerings. The initiatives could improve payment capabilities and investment capacity, but their financial impact remains uncertain. Is Wells Fargo’s Tokenized Deposit Push Reshaping Its Post-Cap Investment Story?
• Negative Sentiment: After a roughly 20% three-month advance, valuation and profit-taking risks could limit near-term upside, making investors more sensitive to execution on growth and regulatory milestones. Why Is Wells Fargo Up Since Last Earnings Report?

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.