Wells Fargo & Company $WFC Stock Position Boosted by Twin Capital Management Inc.

Twin Capital Management Inc. grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,148 shares of the financial services provider’s stock after buying an additional 904 shares during the quarter. Wells Fargo & Company comprises 0.7% of Twin Capital Management Inc.’s holdings, making the stock its 28th biggest position. Twin Capital Management Inc.’s holdings in Wells Fargo & Company were worth $6,421,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Access Investment Management LLC bought a new position in Wells Fargo & Company during the 2nd quarter valued at $25,000. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after buying an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC bought a new position in Wells Fargo & Company during the second quarter valued at about $27,000. Motco grew its holdings in Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 326 shares during the period. Finally, Accent Capital Management LLC bought a new stake in Wells Fargo & Company in the first quarter worth about $29,000. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. The Goldman Sachs Group dropped their price target on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Phillip Securities lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Barclays lifted their target price on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Finally, Truist Financial lifted their price target on Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $86.96 on Thursday. The firm has a market cap of $278.57 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. The company’s fifty day moving average is $83.09 and its 200-day moving average is $79.06. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $88.50.

Wells Fargo & Company (NYSE:WFC) last posted its 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 company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $1.42 earnings per share. Equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

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

Wells Fargo & Company 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.