Northside Capital Management LLC Purchases 4,819 Shares of Wells Fargo & Company $WFC

Northside Capital Management LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 17.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,349 shares of the financial services provider’s stock after purchasing an additional 4,819 shares during the period. Northside Capital Management LLC’s holdings in Wells Fargo & Company were worth $2,592,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in WFC. CBIZ Investment Advisory Services LLC grew its holdings in shares of Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the last quarter. Motco grew its holdings in shares of Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 326 shares during the last quarter. Accent Capital Management LLC bought a new stake in shares of Wells Fargo & Company during the first quarter worth about $29,000. 1248 Management LLC bought a new stake in shares of Wells Fargo & Company during the first quarter worth about $31,000. Finally, Stone House Investment Management LLC bought a new stake in Wells Fargo & Company in the first quarter valued at approximately $34,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC opened at $84.33 on Wednesday. Wells Fargo & Company has a 52-week low of $53.31 and a 52-week high of $86.66. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The business’s 50 day moving average price is $80.58 and its two-hundred day moving average price is $75.56. The firm has a market cap of $270.16 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.1%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s payout ratio is presently 30.82%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WFC. Raymond James Financial cut Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Morgan Stanley upped their target price on Wells Fargo & Company from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Finally, Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.56.

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.