Markowski Investments Takes Position in Wells Fargo & Company $WFC

Markowski Investments bought a new stake in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 44,188 shares of the financial services provider’s stock, valued at approximately $3,652,000. Wells Fargo & Company comprises 0.8% of Markowski Investments’ holdings, making the stock its 27th biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Wells Fargo & Company during the 4th quarter valued at $4,512,563,000. Capital Research Global Investors grew its stake in shares of Wells Fargo & Company by 4.9% in the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock worth $3,487,687,000 after purchasing an additional 1,760,484 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Wells Fargo & Company by 0.9% in the fourth quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock worth $1,975,600,000 after purchasing an additional 188,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Wells Fargo & Company by 13.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider’s stock valued at $1,922,257,000 after purchasing an additional 2,369,260 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Wells Fargo & Company during the second quarter valued at $1,364,923,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $89.90 on Friday. The company has a 50-day moving average of $86.69 and a 200-day moving average of $82.66. The firm has a market cap of $271.86 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 0.97 and a beta of 0.92. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The business had revenue of $22.62 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the previous year, the firm earned $1.60 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th were issued a $0.50 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, August 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.07%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent analyst reports. Bank of America increased their target price on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Robert W. Baird boosted their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods reduced their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research note on Wednesday, July 15th. UBS Group decreased their price objective on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $98.61.

About Wells Fargo & Company

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.