Rosenberg Matthew Hamilton Buys 1,584 Shares of Wells Fargo & Company $WFC

Rosenberg Matthew Hamilton boosted its stake in Wells Fargo & Company (NYSE:WFC) by 58.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,278 shares of the financial services provider’s stock after acquiring an additional 1,584 shares during the period. Rosenberg Matthew Hamilton’s holdings in Wells Fargo & Company were worth $343,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Accretive Wealth Partners LLC bought a new stake in Wells Fargo & Company in the first quarter valued at approximately $399,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Wells Fargo & Company by 10.4% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock valued at $54,471,000 after acquiring an additional 71,740 shares during the last quarter. Secured Retirement Advisors LLC bought a new stake in Wells Fargo & Company in the first quarter valued at approximately $408,000. RKL Wealth Management LLC boosted its holdings in Wells Fargo & Company by 166.4% in the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock valued at $588,000 after acquiring an additional 5,113 shares during the last quarter. Finally, Three Bridge Wealth Advisors LLC bought a new stake in Wells Fargo & Company in the second quarter valued at approximately $364,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC opened at $84.51 on Wednesday. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $86.65. The business’s fifty day moving average is $80.79 and its 200 day moving average is $76.67. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The stock has a market cap of $270.71 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.27 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The company had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. During the same period last year, the business earned $1.42 EPS. Wells Fargo & Company’s quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a $0.45 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is 30.82%.

Analyst Ratings Changes

WFC has been the topic of a number of research analyst reports. Phillip Securities cut Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Truist Financial increased their price target on Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Piper Sandler restated an “overweight” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Raymond James Financial cut Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Finally, Cowen restated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Nine analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $86.77.

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.