Hoese & Co LLP Grows Position in Wells Fargo & Company $WFC

Hoese & Co LLP increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 61.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,174 shares of the financial services provider’s stock after purchasing an additional 445 shares during the period. Hoese & Co LLP’s holdings in Wells Fargo & Company were worth $94,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Wealth Management Partners LLC boosted its stake in shares of Wells Fargo & Company by 3.5% during the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 128 shares during the period. Verum Partners LLC boosted its stake in shares of Wells Fargo & Company by 1.8% during the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after purchasing an additional 128 shares during the period. Motive Wealth Advisors boosted its stake in shares of Wells Fargo & Company by 3.7% during the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 129 shares during the period. Vivid Wealth Management LLC boosted its stake in shares of Wells Fargo & Company by 0.8% during the 2nd quarter. Vivid Wealth Management LLC now owns 17,243 shares of the financial services provider’s stock worth $1,381,000 after purchasing an additional 133 shares during the period. Finally, Lynch & Associates IN boosted its stake in shares of Wells Fargo & Company by 2.0% during the 2nd quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 135 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 0.9%

NYSE:WFC opened at $83.25 on Friday. Wells Fargo & Company has a one year low of $58.42 and a one year high of $87.47. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $266.70 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.16 and a beta of 1.25. The firm has a 50-day simple moving average of $81.21 and a 200-day simple moving average of $76.90.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the previous year, the business posted $1.33 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a $0.45 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.61%.

Analyst Ratings Changes

WFC has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Phillip Securities lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Piper Sandler reiterated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Citigroup lifted their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.