Thompson Davis & CO. Inc. Invests $309,000 in Wells Fargo & Company $WFC

Thompson Davis & CO. Inc. bought a new position in Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,856 shares of the financial services provider’s stock, valued at approximately $309,000.

Other hedge funds have also added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after purchasing an additional 949,735,001 shares during the last quarter. Strs Ohio purchased a new stake in Wells Fargo & Company during the first quarter valued at approximately $109,643,000. Canada Pension Plan Investment Board raised its position in Wells Fargo & Company by 34.6% in the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock worth $381,016,000 after acquiring an additional 1,365,629 shares during the period. Phoenix Financial Ltd. boosted its stake in shares of Wells Fargo & Company by 437.6% during the 2nd quarter. Phoenix Financial Ltd. now owns 1,312,103 shares of the financial services provider’s stock worth $105,120,000 after acquiring an additional 1,068,040 shares during the last quarter. Finally, Temasek Holdings Private Ltd purchased a new position in shares of Wells Fargo & Company during the 1st quarter worth $69,602,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $86.83 on Thursday. The firm has a fifty day simple moving average of $83.53 and a two-hundred day simple moving average of $79.72. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $88.64. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $272.56 billion, a P/E ratio of 14.20, a PEG ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last released 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 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%.Wells Fargo & Company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.42 EPS. On average, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed 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. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is 29.61%.

Analyst Upgrades and Downgrades

A number of analysts have commented on WFC shares. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group cut their price target on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Truist Financial boosted their price objective on Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Bank of America increased their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Citigroup boosted their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.57.

About Wells Fargo & Company

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.