9,248 Shares in Wells Fargo & Company $WFC Acquired by Capital Financial Group Inc. Co. ADV

Capital Financial Group Inc. Co. ADV purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,248 shares of the financial services provider’s stock, valued at approximately $764,000.

Other hedge funds also recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $25,000. Miller Capital Partners Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $25,000. Navalign LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at $26,000. Joseph Group Capital Management purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at $28,000. Finally, Phillip James Consulting Co. acquired a new stake in Wells Fargo & Company during the 1st quarter worth $28,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 0.2%

WFC stock opened at $83.83 on Friday. The company has a market cap of $253.50 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 0.91 and a beta of 0.92. The company has a fifty day moving average price of $86.08 and a 200 day moving average price of $82.97. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.23. The company had revenue of $22.62 billion for the quarter, compared to the consensus estimate of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. Wells Fargo & Company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $1.60 EPS. Sell-side analysts expect that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 7th. Wells Fargo & Company’s payout ratio is currently 29.07%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WFC shares. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Truist Financial raised their price objective on Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Robert W. Baird lifted their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. Finally, Keefe, Bruyette & Woods decreased their target price on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research report on Wednesday, July 15th. Two equities research 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 company. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $98.61.

Wells Fargo & 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.