Wharton Business Group LLC Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Wharton Business Group LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFCGet Rating) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,535 shares of the financial services provider’s stock, valued at approximately $317,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WFC. Gibson Wealth Advisors LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $25,000. FNY Investment Advisers LLC bought a new position in Wells Fargo & Company during the first quarter worth about $25,000. Financial Management Professionals Inc. boosted its position in Wells Fargo & Company by 193.3% during the first quarter. Financial Management Professionals Inc. now owns 522 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 344 shares during the period. KRS Capital Management LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $28,000. Finally, Toth Financial Advisory Corp boosted its position in Wells Fargo & Company by 2,142.9% during the first quarter. Toth Financial Advisory Corp now owns 628 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 600 shares during the period. Institutional investors own 72.23% of the company’s stock.

Wells Fargo & Company Trading Down 5.1 %

WFC stock opened at $43.22 on Wednesday. The company has a market capitalization of $163.94 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 1.11 and a beta of 1.16. Wells Fargo & Company has a one year low of $36.54 and a one year high of $60.30. The company’s 50 day moving average price is $43.36 and its two-hundred day moving average price is $44.77. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.81.

Wells Fargo & Company (NYSE:WFCGet Rating) last posted its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.74 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.14). The business had revenue of $17.03 billion for the quarter, compared to analysts’ expectations of $17.54 billion. Wells Fargo & Company had a return on equity of 10.67% and a net margin of 22.52%. The company’s revenue was down 16.0% compared to the same quarter last year. During the same period last year, the business posted $1.38 earnings per share. As a group, analysts predict that Wells Fargo & Company will post 4 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were issued a $0.30 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, August 4th. This represents a $1.20 annualized dividend and a dividend yield of 2.78%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.78%.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent analyst reports. Citigroup lowered their price target on shares of Wells Fargo & Company from $56.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. Royal Bank of Canada lowered their price target on shares of Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, July 1st. Piper Sandler set a $48.00 price target on shares of Wells Fargo & Company in a report on Monday, June 20th. Credit Suisse Group lowered their price target on shares of Wells Fargo & Company from $57.00 to $55.00 and set an “outperform” rating on the stock in a report on Monday, July 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Monday. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.97.

Wells Fargo & Company Profile

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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.

See Also

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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