S&G Foundation Acquires New Holdings in Wells Fargo & Company $WFC

S&G Foundation bought a new stake in Wells Fargo & Company (NYSE:WFC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 253,314 shares of the financial services provider’s stock, valued at approximately $20,934,000. Wells Fargo & Company comprises approximately 1.0% of S&G Foundation’s portfolio, making the stock its 11th biggest holding.

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

Analyst Ratings Changes

Several research firms have weighed in on WFC. Keefe, Bruyette & Woods cut their target price on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a report on Wednesday, July 15th. UBS Group lowered their price objective on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. JPMorgan Chase & Co. raised their price objective on Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Morgan Stanley upped their target price on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.61.

Wells Fargo & Company Stock Up 0.1%

WFC stock opened at $84.82 on Wednesday. The stock has a market capitalization of $256.51 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92. The company has a 50-day moving average of $86.11 and a two-hundred day moving average of $82.79. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. 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 (NYSE:WFC) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The business had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. During the same quarter in the previous year, the firm earned $1.60 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. 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.