Wells Fargo & Company $WFC Shares Acquired by Scott & Selber Inc.

Scott & Selber Inc. lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.6% in the second quarter, HoldingsChannel reports. The firm owned 30,412 shares of the financial services provider’s stock after acquiring an additional 170 shares during the period. Scott & Selber Inc.’s holdings in Wells Fargo & Company were worth $2,437,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WFC. Brighton Jones LLC raised its holdings in shares of Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after acquiring an additional 25,436 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in Wells Fargo & Company by 8.9% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 53,680 shares of the financial services provider’s stock worth $3,854,000 after purchasing an additional 4,379 shares in the last quarter. Abner Herrman & Brock LLC raised its stake in Wells Fargo & Company by 1.9% in the 1st quarter. Abner Herrman & Brock LLC now owns 288,512 shares of the financial services provider’s stock valued at $20,712,000 after purchasing an additional 5,388 shares during the last quarter. Mirador Capital Partners LP raised its stake in Wells Fargo & Company by 3.5% in the 1st quarter. Mirador Capital Partners LP now owns 5,292 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 181 shares during the last quarter. Finally, Czech National Bank lifted its holdings in Wells Fargo & Company by 4.7% in the 1st quarter. Czech National Bank now owns 755,410 shares of the financial services provider’s stock valued at $54,231,000 after purchasing an additional 33,712 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. Evercore ISI restated an “outperform” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Truist Financial boosted their price target on Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wall Street Zen cut Wells Fargo & Company from a “hold” rating to a “sell” rating in a report on Friday. Finally, The Goldman Sachs Group lowered their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average price target of $82.97.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $85.01 on Monday. The business’s fifty day moving average price is $80.84 and its 200 day moving average price is $75.97. Wells Fargo & Company has a twelve month low of $54.40 and a twelve month high of $86.65. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $272.32 billion, a P/E ratio of 14.56, a PEG ratio of 1.31 and a beta of 1.25.

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

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were paid a dividend of $0.45 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s payout ratio is 30.82%.

About Wells Fargo & Company

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.