Knuff & Co LLC Acquires Shares of 14,292 Wells Fargo & Company $WFC

Knuff & Co LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 14,292 shares of the financial services provider’s stock, valued at approximately $1,181,000.

A number of other institutional investors have also modified their holdings of WFC. Godfrey Financial Associates Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Miller Capital Partners Inc. purchased a new position in Wells Fargo & Company during the 4th quarter worth $25,000. Navalign LLC bought a new stake in Wells Fargo & Company during the 4th quarter valued at $26,000. Joseph Group Capital Management bought a new stake in Wells Fargo & Company during the 4th quarter valued at $28,000. Finally, Phillip James Consulting Co. purchased a new stake in shares of Wells Fargo & Company in the 1st quarter worth $28,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WFC has been the topic of a number of recent research reports. Truist Financial increased their price target on Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Robert W. Baird lifted their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. UBS Group lowered their price objective on shares of 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Friday, July 17th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company Trading Down 0.0%

Shares of NYSE:WFC opened at $83.83 on Monday. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76. The business’s fifty day simple moving average is $86.08 and its 200-day simple moving average is $82.91. The company has a market capitalization of $253.50 billion, a PE ratio of 12.18, a P/E/G ratio of 0.91 and a beta of 0.92. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.73 by $0.23. The firm had revenue of $22.62 billion during the quarter, compared to analyst estimates of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.60 EPS. As a group, equities research analysts predict that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be issued a $0.50 dividend. This is a boost 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%. The ex-dividend date is Friday, August 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.07%.

Wells Fargo & Company Company Profile

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.