192,201 Shares in Wells Fargo & Company $WFC Bought by Vise Technologies Inc.

Vise Technologies Inc. purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the second quarter, HoldingsChannel reports. The fund purchased 192,201 shares of the financial services provider’s stock, valued at approximately $15,884,000.

Several other large investors have also added to or reduced their stakes in the company. Nixon Peabody Trust Co. increased its holdings in shares of Wells Fargo & Company by 3.6% in the fourth quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 115 shares during the period. MFA Wealth Services boosted its position in Wells Fargo & Company by 0.7% in the second quarter. MFA Wealth Services now owns 16,712 shares of the financial services provider’s stock valued at $1,381,000 after buying an additional 115 shares during the last quarter. Simmons Bank boosted its position in Wells Fargo & Company by 1.9% in the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock valued at $593,000 after buying an additional 116 shares during the last quarter. Wood Tarver Financial Group LLC increased its holdings in Wells Fargo & Company by 1.6% in the 4th quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider’s stock worth $722,000 after buying an additional 120 shares during the period. Finally, Hidden Cove Wealth Management LLC increased its holdings in Wells Fargo & Company by 1.8% in the 2nd quarter. Hidden Cove Wealth Management LLC now owns 6,846 shares of the financial services provider’s stock worth $566,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.0%

Shares of NYSE:WFC opened at $84.70 on Tuesday. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76. The company has a market capitalization of $256.13 billion, a PE ratio of 12.31, a PEG ratio of 0.91 and a beta of 0.92. The business has a 50 day moving average of $86.11 and a two-hundred day moving average of $82.85. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.73 by $0.23. The business had revenue of $22.62 billion for the quarter, compared to analyst estimates of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.60 EPS. As a group, analysts forecast that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors 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 yield of 2.4%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 7th. Wells Fargo & Company’s payout ratio is currently 29.07%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Robert W. Baird lifted their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Keefe, Bruyette & Woods cut their price objective on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 15th. UBS Group reduced their target price on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Truist Financial boosted their target price on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a report on Wednesday, July 29th. 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’s stock. Based on data from MarketBeat.com, Wells Fargo & Company currently 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.