Wells Fargo & Company $WFC Shares Acquired by Talon Private Wealth LLC

Talon Private Wealth LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 29.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,866 shares of the financial services provider’s stock after purchasing an additional 9,389 shares during the quarter. Talon Private Wealth LLC’s holdings in Wells Fargo & Company were worth $3,377,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WFC. California State Teachers Retirement System increased its holdings in shares of Wells Fargo & Company by 7,954.4% in the 2nd quarter. California State Teachers Retirement System now owns 384,483,013 shares of the financial services provider’s stock worth $31,773,676,000 after acquiring an additional 379,709,426 shares during the period. Norges Bank acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $4,512,563,000. Legal & General Group Plc bought a new position in Wells Fargo & Company in the 2nd quarter worth about $1,635,881,000. Bank of New York Mellon Corp bought a new position in Wells Fargo & Company in the 2nd quarter worth about $1,364,923,000. Finally, Deutsche Bank AG acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $859,431,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC traded up $0.97 during trading on Friday, reaching $90.42. The company had a trading volume of 12,927,845 shares, compared to its average volume of 16,154,195. The firm’s fifty day moving average is $87.07 and its 200 day moving average is $82.67. The firm has a market capitalization of $273.42 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.97 and a beta of 0.92. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current 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 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The business had revenue of $22.62 billion for the quarter, compared to analyst estimates of $21.86 billion. During the same quarter last year, the business earned $1.60 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities analysts forecast that Wells Fargo & Company will post 7.25 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th were given a dividend of $0.50 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company’s payout ratio is 29.07%.

Analysts Set New Price Targets

WFC has been the topic of a number of recent analyst reports. Bank of America lifted their price target on Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. increased their price objective on Wells Fargo & Company from $93.50 to $95.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods lowered their target price on 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. Raymond James Financial reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Two investment 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.com, the company presently 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 financial services company that provides banking, lending, investment, and wealth management services to consumers, businesses, and institutions. Its offerings include checking and savings accounts, credit cards, mortgages, auto loans, personal lending, commercial financing, and treasury management services.

The company operates through businesses that include consumer and small-business banking, commercial banking, corporate and investment banking, and wealth and investment management.