Martin & Co. Inc. TN Invests $1.85 Million in Wells Fargo & Company $WFC

Martin & Co. Inc. TN purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 22,335 shares of the financial services provider’s stock, valued at approximately $1,846,000.

A number of other institutional investors have also modified their holdings of the business. Godfrey Financial Associates Inc. acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Miller Capital Partners Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $25,000. Navalign LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $26,000. Joseph Group Capital Management bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $28,000. Finally, Phillip James Consulting Co. acquired a new position in Wells Fargo & Company during the 1st quarter valued at approximately $28,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on WFC shares. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Robert W. Baird increased their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Truist Financial lifted 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 report on Friday, June 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company Trading Up 0.1%

NYSE:WFC opened at $84.82 on Wednesday. The stock has a market cap of $256.51 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 0.92 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The business has a fifty day moving average of $86.11 and a 200-day moving average of $82.79.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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. The business had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.60 earnings per share. Equities analysts predict that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, August 7th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.4%. Wells Fargo & Company’s dividend 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.