Wells Fargo & Company (NYSE:WFC) Shares Bought by Beaton Management Co. Inc.

Beaton Management Co. Inc. grew its holdings in shares of Wells Fargo & Company (NYSE:WFCGet Rating) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,193 shares of the financial services provider’s stock after purchasing an additional 308 shares during the quarter. Beaton Management Co. Inc.’s holdings in Wells Fargo & Company were worth $542,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. Landmark Wealth Management LLC purchased a new stake in Wells Fargo & Company in the 1st quarter valued at about $40,000. Gibson Wealth Advisors LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $25,000. Financial Management Professionals Inc. raised its holdings in Wells Fargo & Company by 193.3% in the 1st quarter. Financial Management Professionals Inc. now owns 522 shares of the financial services provider’s stock valued at $25,000 after buying an additional 344 shares during the period. FNY Investment Advisers LLC purchased a new stake in Wells Fargo & Company during the first quarter worth about $25,000. Finally, KRS Capital Management LLC purchased a new stake in Wells Fargo & Company during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 72.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WFC shares. Credit Suisse Group lowered their price target on Wells Fargo & Company from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, July 18th. Piper Sandler set a $48.00 price target on Wells Fargo & Company in a report on Monday, June 20th. Royal Bank of Canada decreased their price objective on Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, July 1st. Jefferies Financial Group decreased their price objective on Wells Fargo & Company from $55.00 to $47.00 in a report on Monday, July 11th. Finally, Raymond James decreased their price objective on Wells Fargo & Company from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, June 24th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.32.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $45.23 on Friday. The stock’s 50-day moving average is $43.08 and its 200-day moving average is $45.03. The company has a market cap of $171.56 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 1.07 and a beta of 1.16. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.80. Wells Fargo & Company has a 12 month low of $36.54 and a 12 month high of $60.30.

Wells Fargo & Company (NYSE:WFCGet Rating) last released its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). The firm had revenue of $17.03 billion during 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 business’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 earnings per share. Equities analysts anticipate that Wells Fargo & Company will post 4 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, August 4th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.65%. Wells Fargo & Company’s payout ratio is currently 28.78%.

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.

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

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