Atlantic Union Bankshares Corp Has $15.12 Million Position in Wells Fargo & Company $WFC

Atlantic Union Bankshares Corp grew its position in Wells Fargo & Company (NYSE:WFC) by 5.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 188,698 shares of the financial services provider’s stock after buying an additional 9,956 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Wells Fargo & Company were worth $15,118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. SP Asset Management LLC raised its position in shares of Wells Fargo & Company by 0.6% in the 2nd quarter. SP Asset Management LLC now owns 273,798 shares of the financial services provider’s stock valued at $21,937,000 after buying an additional 1,543 shares in the last quarter. Convergence Financial LLC increased its position in Wells Fargo & Company by 8.0% during the 2nd quarter. Convergence Financial LLC now owns 3,636 shares of the financial services provider’s stock worth $291,000 after purchasing an additional 268 shares in the last quarter. Moors & Cabot Inc. increased its position in Wells Fargo & Company by 10.0% during the 2nd quarter. Moors & Cabot Inc. now owns 53,617 shares of the financial services provider’s stock worth $4,296,000 after purchasing an additional 4,854 shares in the last quarter. Equity Investment Corp increased its position in Wells Fargo & Company by 2.6% during the 2nd quarter. Equity Investment Corp now owns 1,964,820 shares of the financial services provider’s stock worth $157,421,000 after purchasing an additional 49,953 shares in the last quarter. Finally, Blue Barn Wealth LLC increased its position in Wells Fargo & Company by 15.1% during the 2nd quarter. Blue Barn Wealth LLC now owns 5,742 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 755 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 0.2%

Shares of NYSE WFC opened at $86.96 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $88.50. The firm has a 50 day moving average price of $83.09 and a two-hundred day moving average price of $79.06. The stock has a market cap of $278.57 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same period in the prior year, the company posted $1.42 EPS. The company’s revenue was up 5.3% on a year-over-year basis. As a group, equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. TD Cowen upped their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Barclays upped their price objective on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 15th. Finally, Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

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.