Talbot Financial LLC Makes New $9.83 Million Investment in Wells Fargo & Company $WFC

Talbot Financial LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 117,249 shares of the financial services provider’s stock, valued at approximately $9,828,000.

Several other institutional investors have also recently made changes to their positions in the business. Livforsakringsbolaget Skandia Omsesidigt grew its position in Wells Fargo & Company by 2,735,254.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after buying an additional 949,735,001 shares during the period. Norges Bank bought a new position in Wells Fargo & Company in the second quarter worth approximately $3,990,551,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Wells Fargo & Company by 54.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock worth $1,332,851,000 after acquiring an additional 5,894,747 shares during the last quarter. Amundi grew its position in shares of Wells Fargo & Company by 18.2% during the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after acquiring an additional 2,180,693 shares during the period. Finally, Laurel Wealth Advisors LLC grew its position in shares of Wells Fargo & Company by 8,010.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock valued at $158,135,000 after acquiring an additional 1,949,395 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Truist Financial lifted their target price on Wells Fargo & Company from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday. Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. TD Cowen lifted their price objective on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. Finally, Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned 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 $92.04.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $91.42 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $94.26. The stock has a 50-day moving average price of $86.47 and a 200 day moving average price of $82.19. The stock has a market capitalization of $286.97 billion, a P/E ratio of 15.04, a P/E/G ratio of 0.96 and a beta of 1.11.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. During the same period in the previous year, the firm earned $1.42 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.61%.

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.