First Financial Group Corp Has $313,000 Holdings in Wells Fargo & Company $WFC

First Financial Group Corp cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 15.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,912 shares of the financial services provider’s stock after selling 697 shares during the quarter. First Financial Group Corp’s holdings in Wells Fargo & Company were worth $313,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WFC. Brighton Jones LLC grew its stake in shares of Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after purchasing an additional 25,436 shares during the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of Wells Fargo & Company by 2.2% in the first quarter. First Citizens Bank & Trust Co. now owns 36,632 shares of the financial services provider’s stock worth $2,630,000 after purchasing an additional 778 shares during the last quarter. NewSquare Capital LLC grew its stake in shares of Wells Fargo & Company by 48.8% in the first quarter. NewSquare Capital LLC now owns 2,061 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 676 shares during the last quarter. City Holding Co. grew its stake in shares of Wells Fargo & Company by 26.7% in the first quarter. City Holding Co. now owns 1,850 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 390 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its stake in shares of Wells Fargo & Company by 5.9% in the first quarter. Pallas Capital Advisors LLC now owns 41,943 shares of the financial services provider’s stock worth $3,011,000 after purchasing an additional 2,349 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock opened at $81.09 on Wednesday. The stock has a market capitalization of $259.75 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. The company’s 50-day moving average is $80.69 and its 200-day moving average is $76.42. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a 1 year low of $57.07 and a 1 year high of $86.65.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to analysts’ expectations of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 EPS. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were given a dividend of $0.45 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Wells Fargo & Company’s payout ratio is currently 30.82%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Morgan Stanley cut shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $87.00 to $90.00 in a research note on Monday, September 29th. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Truist Financial upped their price target on shares of Wells Fargo & Company from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wells Fargo & Company in a research report on Saturday, September 27th. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $85.41.

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.