Wells Fargo & Company (NYSE:WFC) Shares Acquired by Hancock Whitney Corp

Hancock Whitney Corp boosted its stake in Wells Fargo & Company (NYSE:WFC) by 776.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,264 shares of the financial services provider’s stock after purchasing an additional 80,854 shares during the period. Hancock Whitney Corp’s holdings in Wells Fargo & Company were worth $5,420,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in WFC. John W. Brooker & Co. CPAs lifted its position in shares of Wells Fargo & Company by 2.5% during the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 171 shares in the last quarter. McAdam LLC grew its stake in shares of Wells Fargo & Company by 3.3% during the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock valued at $333,000 after acquiring an additional 178 shares in the last quarter. Prentice Wealth Management LLC grew its stake in shares of Wells Fargo & Company by 2.0% during the second quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock valued at $560,000 after acquiring an additional 184 shares in the last quarter. Clearstead Trust LLC increased its position in shares of Wells Fargo & Company by 13.0% during the first quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 186 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its stake in shares of Wells Fargo & Company by 3.4% in the second quarter. Fortitude Family Office LLC now owns 5,897 shares of the financial services provider’s stock worth $350,000 after acquiring an additional 193 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $56.29 on Friday. The firm has a fifty day moving average of $56.19 and a 200-day moving average of $57.89. The company has a market cap of $196.24 billion, a price-to-earnings ratio of 11.56, 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 1 year low of $38.38 and a 1 year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. During the same period last year, the firm posted $1.25 EPS. Wells Fargo & Company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.84%. Wells Fargo & Company’s payout ratio is currently 32.85%.

Analysts Set New Price Targets

WFC has been the topic of several analyst reports. The 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 report on Wednesday, September 11th. Evercore ISI cut their price target on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company 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 research note on Thursday, July 11th. Finally, Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and decreased their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.29.

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.