Ferguson Wellman Capital Management Inc. boosted its stake in Wells Fargo & Company (NYSE:WFC) by 17.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,890 shares of the financial services provider’s stock after purchasing an additional 4,505 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Wells Fargo & Company were worth $1,318,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Defender Capital LLC. acquired a new stake in shares of Wells Fargo & Company during the first quarter valued at about $246,000. Fairfield Bush & CO. acquired a new stake in shares of Wells Fargo & Company during the first quarter valued at about $124,000. Dakota Wealth Management acquired a new stake in shares of Wells Fargo & Company during the first quarter valued at about $222,000. Candriam Luxembourg S.C.A. grew its stake in shares of Wells Fargo & Company by 0.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 273,936 shares of the financial services provider’s stock valued at $13,274,000 after acquiring an additional 770 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its stake in shares of Wells Fargo & Company by 24.5% during the first quarter. Zions Bancorporation N.A. now owns 9,630 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 1,895 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Morgan Stanley raised their target price on Wells Fargo & Company from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, August 1st. BMO Capital Markets decreased their price target on Wells Fargo & Company from $54.00 to $51.00 in a research note on Monday, July 17th. Wolfe Research downgraded Wells Fargo & Company from an “outperform” rating to a “peer perform” rating in a research note on Friday, July 7th. Piper Sandler lifted their price target on Wells Fargo & Company from $43.00 to $45.00 in a research note on Monday, July 17th. Finally, Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $43.75 price target for the company. in a research note on Monday, July 17th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.39.
Check Out Our Latest Analysis on Wells Fargo & Company
Wells Fargo & Company Stock Performance
Shares of NYSE WFC opened at $42.95 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average price is $43.43 and its two-hundred day moving average price is $41.42. Wells Fargo & Company has a 52-week low of $35.25 and a 52-week high of $48.84. The stock has a market capitalization of $157.14 billion, a P/E ratio of 10.74, a P/E/G ratio of 0.87 and a beta of 1.14.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. The company had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.11 billion. Wells Fargo & Company had a return on equity of 11.15% and a net margin of 16.18%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, sell-side analysts forecast that Wells Fargo & Company will post 4.84 earnings per share for the current year.
Wells Fargo & Company Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Thursday, August 3rd. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.30. Wells Fargo & Company’s payout ratio is 35.00%.
Wells Fargo & Company Company Profile
(Free Report)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
Read More
Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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Ferguson Wellman Capital Management Inc. boosted its stake in Wells Fargo & Company (NYSE:WFC) by 17.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,890 shares of the financial services provider’s stock after purchasing an additional 4,505 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Wells Fargo & Company were worth $1,318,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Defender Capital LLC. acquired a new stake in shares of Wells Fargo & Company during the first quarter valued at about $246,000. Fairfield Bush & CO. acquired a new stake in shares of Wells Fargo & Company during the first quarter valued at about $124,000. Dakota Wealth Management acquired a new stake in shares of Wells Fargo & Company during the first quarter valued at about $222,000. Candriam Luxembourg S.C.A. grew its stake in shares of Wells Fargo & Company by 0.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 273,936 shares of the financial services provider’s stock valued at $13,274,000 after acquiring an additional 770 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its stake in shares of Wells Fargo & Company by 24.5% during the first quarter. Zions Bancorporation N.A. now owns 9,630 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 1,895 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Morgan Stanley raised their target price on Wells Fargo & Company from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, August 1st. BMO Capital Markets decreased their price target on Wells Fargo & Company from $54.00 to $51.00 in a research note on Monday, July 17th. Wolfe Research downgraded Wells Fargo & Company from an “outperform” rating to a “peer perform” rating in a research note on Friday, July 7th. Piper Sandler lifted their price target on Wells Fargo & Company from $43.00 to $45.00 in a research note on Monday, July 17th. Finally, Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $43.75 price target for the company. in a research note on Monday, July 17th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.39.
Check Out Our Latest Analysis on Wells Fargo & Company
Wells Fargo & Company Stock Performance
Shares of NYSE WFC opened at $42.95 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average price is $43.43 and its two-hundred day moving average price is $41.42. Wells Fargo & Company has a 52-week low of $35.25 and a 52-week high of $48.84. The stock has a market capitalization of $157.14 billion, a P/E ratio of 10.74, a P/E/G ratio of 0.87 and a beta of 1.14.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.09. The company had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.11 billion. Wells Fargo & Company had a return on equity of 11.15% and a net margin of 16.18%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, sell-side analysts forecast that Wells Fargo & Company will post 4.84 earnings per share for the current year.
Wells Fargo & Company Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Thursday, August 3rd. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.30. Wells Fargo & Company’s payout ratio is 35.00%.
Wells Fargo & Company Company Profile
(Free Report)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
Read More
Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Wells Fargo & Company, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Wells Fargo & Company wasn’t on the list.
While Wells Fargo & Company currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we’ll send you MarketBeat’s guide to investing in electric vehicle technologies (EV) and which EV stocks show the most promise.
Get This Free Report
Source: marketbeat.com
