3,120 Shares in Wells Fargo & Company $WFC Acquired by Texas Bank & Trust Co

Texas Bank & Trust Co bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,120 shares of the financial services provider’s stock, valued at approximately $250,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after purchasing an additional 25,436 shares in the last quarter. Silver Oak Securities Incorporated bought a new stake in shares of Wells Fargo & Company in the 1st quarter valued at about $215,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Wells Fargo & Company in the 1st quarter worth approximately $244,000. Brookstone Capital Management raised its stake in shares of Wells Fargo & Company by 129.9% during the 1st quarter. Brookstone Capital Management now owns 40,630 shares of the financial services provider’s stock worth $2,917,000 after acquiring an additional 22,954 shares in the last quarter. Finally, Strategic Blueprint LLC raised its stake in shares of Wells Fargo & Company by 3.0% during the 1st quarter. Strategic Blueprint LLC now owns 5,628 shares of the financial services provider’s stock worth $404,000 after acquiring an additional 162 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $87.19 on Monday. The firm has a market capitalization of $279.30 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The business has a fifty day moving average of $82.75 and a 200 day moving average of $78.69. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $87.47.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.11. The business had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 EPS. As a group, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a $0.45 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Wall Street Analysts Forecast Growth

WFC has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Barclays increased their price objective on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. UBS Group lowered their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. TD Cowen boosted their target price on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Finally, Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.