Wells Fargo & Company $WFC Shares Bought by Czech National Bank

Czech National Bank grew its position in Wells Fargo & Company (NYSE:WFC) by 3.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 871,047 shares of the financial services provider’s stock after purchasing an additional 28,791 shares during the period. Czech National Bank’s holdings in Wells Fargo & Company were worth $71,983,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in WFC. Godfrey Financial Associates Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $25,000. Miller Capital Partners Inc. purchased a new position in Wells Fargo & Company during the 4th quarter worth $25,000. Navalign LLC acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $26,000. Joseph Group Capital Management acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $28,000. Finally, Core Wealth Advisors LLC purchased a new stake in Wells Fargo & Company in the fourth quarter valued at about $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $87.57 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a 50-day moving average of $84.70 and a two-hundred day moving average of $83.03. The stock has a market cap of $264.81 billion, a P/E ratio of 12.73, a P/E/G ratio of 0.97 and a beta of 0.92. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates 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 business 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 company earned $1.60 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. As a group, research analysts predict that Wells Fargo & Company will post 7.26 EPS 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 given 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 2.3%. The ex-dividend date is Friday, August 7th. Wells Fargo & Company’s payout ratio is currently 26.16%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on WFC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a report on Friday, July 17th. Bank of America upped their price objective on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Finally, Truist Financial boosted their target price on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Friday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average target price of $98.61.

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.