Wells Fargo & Company (NYSE:WFC) Shares Bought by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 299.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,765 shares of the financial services provider’s stock after buying an additional 17,068 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Wells Fargo & Company were worth $1,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $2,623,044,000. LSV Asset Management boosted its position in Wells Fargo & Company by 40.4% during the fourth quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock worth $458,162,000 after purchasing an additional 2,677,050 shares in the last quarter. 1832 Asset Management L.P. boosted its position in Wells Fargo & Company by 67.1% during the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after purchasing an additional 2,349,595 shares in the last quarter. Morningstar Investment Services LLC boosted its position in Wells Fargo & Company by 103.7% during the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock worth $189,684,000 after purchasing an additional 1,951,477 shares in the last quarter. Finally, Rokos Capital Management LLP raised its holdings in shares of Wells Fargo & Company by 141.6% during the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock valued at $151,853,000 after acquiring an additional 1,536,152 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley increased their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Evercore ISI reissued an “outperform” rating and set a $67.00 target price (down previously from $70.00) on shares of Wells Fargo & Company in a report on Monday, July 15th. JPMorgan Chase & Co. increased their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Finally, StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Thirteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $59.91.

Wells Fargo & Company Trading Up 1.6 %

WFC stock traded up $0.81 during midday trading on Tuesday, hitting $52.87. 11,156,511 shares of the company’s stock were exchanged, compared to its average volume of 18,160,838. The business has a 50-day simple moving average of $58.02 and a two-hundred day simple moving average of $57.11. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $184.32 billion, a PE ratio of 10.86, a P/E/G ratio of 1.40 and a beta of 1.17. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. During the same period last year, the business posted $1.25 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, sell-side analysts predict that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be given a dividend of $0.40 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.