Latash Investments LLC Makes New $114.60 Million Investment in Wells Fargo & Company $WFC

Latash Investments LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,386,695 shares of the financial services provider’s stock, valued at approximately $114,596,000. Wells Fargo & Company makes up 84.0% of Latash Investments LLC’s investment portfolio, making the stock its biggest holding.

A number of other large investors also recently modified their holdings of the business. Frazier Financial Advisors LLC bought a new stake in shares of Wells Fargo & Company during the second quarter valued at about $130,000. Bell & Brown Wealth Advisors LLC bought a new position in Wells Fargo & Company in the 2nd quarter valued at about $5,206,000. Northcape Wealth Management LLC bought a new position in Wells Fargo & Company in the 2nd quarter valued at about $428,000. Edmond DE Rothschild Holding S.A. acquired a new position in Wells Fargo & Company during the 2nd quarter valued at about $62,890,000. Finally, Uptick Partners LLC acquired a new position in Wells Fargo & Company during the 2nd quarter valued at about $842,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Truist Financial raised their price objective on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. upped their target price 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, UBS Group decreased their price target on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $83.83 on Monday. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average of $86.08 and a two-hundred day moving average of $82.91. The company has a market capitalization of $253.50 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.91 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $22.62 billion for the quarter, compared to analysts’ expectations of $21.86 billion. During the same quarter in the previous year, the company posted $1.60 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. As a group, analysts expect that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, August 7th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. Wells Fargo & Company’s payout ratio is 29.07%.

About Wells Fargo & Company

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.