Kirkwood Financial Services Makes New Investment in Wells Fargo & Company $WFC

Kirkwood Financial Services purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,802 shares of the financial services provider’s stock, valued at approximately $1,223,000. Wells Fargo & Company makes up about 0.3% of Kirkwood Financial Services’ investment portfolio, making the stock its 16th largest holding.

Several other large investors have also modified their holdings of WFC. Godfrey Financial Associates Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $25,000. Miller Capital Partners Inc. purchased a new position in Wells Fargo & Company during the fourth quarter worth $25,000. Navalign LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth $26,000. Core Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth $29,000. Finally, Strive Financial Group LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $29,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on WFC. Raymond James Financial reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price target on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Robert W. Baird boosted 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 report on Wednesday, July 15th. Truist Financial upped their price objective on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Friday, June 26th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $98.61.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $89.90 on Monday. The business’s 50-day moving average price is $86.69 and its 200 day moving average price is $82.63. 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 has a twelve month low of $72.78 and a twelve month high of $97.76. The company has a market capitalization of $271.86 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, beating 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 company 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 business earned $1.60 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. On average, research analysts predict that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 7th were issued a $0.50 dividend. The ex-dividend date was Friday, August 7th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. Wells Fargo & Company’s 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.