Trivium Point Advisory LLC Makes New $570,000 Investment in Wells Fargo & Company $WFC

Trivium Point Advisory LLC bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 6,900 shares of the financial services provider’s stock, valued at approximately $570,000.

Several other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $4,512,563,000. Capital Research Global Investors raised its position in Wells Fargo & Company by 4.9% during the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock valued at $3,487,687,000 after buying an additional 1,760,484 shares during the period. Legal & General Group Plc raised its position in Wells Fargo & Company by 0.9% during the fourth quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock valued at $1,975,600,000 after buying an additional 188,186 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Wells Fargo & Company by 13.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider’s stock valued at $1,922,257,000 after buying an additional 2,369,260 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Wells Fargo & Company in the 2nd quarter worth about $1,364,923,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $83.83 on Friday. The business’s 50-day moving average price is $86.08 and its two-hundred day moving average price is $82.97. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The company has a market capitalization of $253.50 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 0.91 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $21.86 billion. During the same period in the prior year, the firm posted $1.60 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a $0.50 dividend. This is an increase 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 2.4%. The ex-dividend date is Friday, August 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.07%.

Analysts Set New Price Targets

A number of equities research analysts have commented on WFC shares. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Truist Financial upped their target price on Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, June 26th. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Raymond James Financial reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 14th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $98.61.

About Wells Fargo & Company

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.