Wells Fargo & Company $WFC Stock Position Raised by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. increased its stake in Wells Fargo & Company (NYSE:WFC) by 2.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,217,182 shares of the financial services provider’s stock after acquiring an additional 29,831 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Wells Fargo & Company were worth $97,521,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of WFC. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Wells Fargo & Company by 10.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock valued at $54,471,000 after acquiring an additional 71,740 shares in the last quarter. Three Bridge Wealth Advisors LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter valued at $364,000. NatWest Group plc lifted its holdings in shares of Wells Fargo & Company by 4.6% in the first quarter. NatWest Group plc now owns 180,418 shares of the financial services provider’s stock valued at $12,952,000 after purchasing an additional 7,934 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in shares of Wells Fargo & Company in the second quarter worth $40,000. Finally, Truvestments Capital LLC boosted its position in shares of Wells Fargo & Company by 4,148.2% in the first quarter. Truvestments Capital LLC now owns 30,332 shares of the financial services provider’s stock worth $2,178,000 after buying an additional 29,618 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

WFC stock opened at $92.76 on Friday. The firm has a 50 day moving average of $85.51 and a two-hundred day moving average of $81.74. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $93.42. The company has a market capitalization of $291.18 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 0.96 and a beta of 1.11. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.18. The business had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. Wells Fargo & Company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 EPS. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.9%. Wells Fargo & Company’s payout ratio is currently 29.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Truist Financial increased their price objective on Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Evercore ISI raised their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Bank of America increased their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.04.

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.