Citizens Business Bank Acquires 645 Shares of Wells Fargo & Company $WFC

Citizens Business Bank increased its position in Wells Fargo & Company (NYSE:WFC) by 19.3% during the second quarter, Holdings Channel.com reports. The firm owned 3,989 shares of the financial services provider’s stock after buying an additional 645 shares during the quarter. Citizens Business Bank’s holdings in Wells Fargo & Company were worth $319,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt raised its position in Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after buying an additional 949,735,001 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Wells Fargo & Company by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock valued at $1,471,259,000 after purchasing an additional 128,207 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Wells Fargo & Company by 277.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock valued at $771,092,000 after purchasing an additional 7,894,919 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of Wells Fargo & Company by 5.5% during the 2nd quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock worth $830,990,000 after acquiring an additional 542,493 shares during the period. Finally, Boston Partners grew its stake in shares of Wells Fargo & Company by 6.2% during the 1st quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock worth $640,616,000 after acquiring an additional 523,107 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on WFC shares. TD Cowen increased their price target on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Wednesday. Barclays increased their price target on Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday. Morgan Stanley increased their price target on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Bank of America increased their price target on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Truist Financial increased their price target on Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Stock Down 0.9%

Shares of NYSE:WFC opened at $83.25 on Friday. The firm has a fifty day moving average price of $81.21 and a two-hundred day moving average price of $76.90. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a one year low of $58.42 and a one year high of $87.47. The company has a market cap of $266.70 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.16 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The firm had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 EPS. Analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. This is an increase 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 dividend payout ratio (DPR) is presently 29.61%.

Wells Fargo & Company Company Profile

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.