one8zero8 LLC Acquires Shares of 6,905 Wells Fargo & Company $WFC

one8zero8 LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) in the second quarter, Holdings Channel reports. The institutional investor bought 6,905 shares of the financial services provider’s stock, valued at approximately $571,000.

Several other large investors have also modified their holdings of the stock. Godfrey Financial Associates Inc. acquired a new position in Wells Fargo & Company in the 4th quarter valued at $25,000. Miller Capital Partners Inc. acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth $25,000. Navalign LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth $26,000. Joseph Group Capital Management purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $28,000. Finally, Core Wealth Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.0%

Shares of WFC opened at $83.83 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The firm’s 50-day moving average is $86.08 and its two-hundred day moving average is $82.91. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The firm has a market capitalization of $253.50 billion, a P/E ratio of 12.18, a PEG ratio of 0.91 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. The company had revenue of $22.62 billion during 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%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $1.60 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 7th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.07%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WFC. Bank of America boosted their price target on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. Truist Financial boosted their target price 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 increased their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, UBS Group reduced their price target on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.