Federated Hermes Inc. owns $40.21M in Wells Fargo & Company (NYSE:WFC)

Federated Hermes Inc. lessened its position in Wells Fargo & Company (NYSE:WFC – Free Report) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 677,069 shares of the financial services provider’s stock after selling 7,373 shares during the quarter. Holdings of Federated Hermes Inc. in Wells Fargo & Company were worth $40,211,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Core Wealth Advisors Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $25,000. Valued Wealth Advisors LLC raised its position in Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $32,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $34,000. Finally, Beaird Harris Wealth Management LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 75.90% of the company’s shares.

Analysts set new price targets

A number of brokerages recently weighed in on WFC. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, September 3rd. BMO Capital Markets upped their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and cut their price target for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Goldman Sachs Group dropped their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Evercore ISI cut their price target on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, 6 September. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $60.29, according to MarketBeat.

Get the latest stock report on WFC

Wells Fargo & Company stock rose 2.3%

Shares of NYSE:WFC opened at $52.78 on Friday. The company has a fifty day moving average of $56.60 and a 200 day moving average of $57.91. The company has a market cap of $179.65 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85, and a current ratio of 0.86. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55.

Wells Fargo & Company (NYSE:WFC – Get Free Report ) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The company had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company’s revenue for the quarter was up 0.8% compared to the same quarter last year. In the same period last year, the company earned $1.25 per share. On average, equities analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company raised its dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a $0.40 dividend. This represents a dividend of $1.60 on an annualized basis and a yield of 3.03%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

Company Profile Wells Fargo & Company

(Free Report)

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

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