CHURCHILL MANAGEMENT Corp Acquires 3,409 Shares of Wells Fargo & Company $WFC

CHURCHILL MANAGEMENT Corp boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 254,395 shares of the financial services provider’s stock after acquiring an additional 3,409 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Wells Fargo & Company were worth $20,382,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Warren Street Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company in the second quarter worth about $224,000. Naples Global Advisors LLC bought a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $366,000. Pure Financial Advisors LLC increased its holdings in shares of Wells Fargo & Company by 3.9% in the second quarter. Pure Financial Advisors LLC now owns 20,993 shares of the financial services provider’s stock valued at $1,682,000 after purchasing an additional 786 shares in the last quarter. B.O.S.S. Retirement Advisors LLC raised its position in Wells Fargo & Company by 15.8% in the 2nd quarter. B.O.S.S. Retirement Advisors LLC now owns 7,171 shares of the financial services provider’s stock worth $575,000 after purchasing an additional 978 shares during the last quarter. Finally, Madrona Financial Services LLC lifted its holdings in Wells Fargo & Company by 5.9% during the 2nd quarter. Madrona Financial Services LLC now owns 3,830 shares of the financial services provider’s stock worth $307,000 after buying an additional 212 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the subject of several research reports. Piper Sandler reissued an “overweight” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Evercore ISI lifted their price objective on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday. Morgan Stanley downgraded shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $87.00 to $90.00 in a research report on Monday. The Goldman Sachs Group reduced their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Finally, Citigroup boosted their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.74.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $80.94 on Thursday. 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 firm has a market capitalization of $259.28 billion, a P/E ratio of 13.86, a PEG ratio of 1.29 and a beta of 1.25. The business has a 50-day moving average of $80.91 and a 200-day moving average of $76.15. Wells Fargo & Company has a 1 year low of $54.40 and a 1 year high of $86.65.

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

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a $0.45 dividend. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

Wells Fargo & 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.