Federated Hermes Inc. Has $40.21 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Federated Hermes Inc. lessened its position in Wells Fargo & Company (NYSE:WFC) 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. Federated Hermes Inc.’s holdings in Wells Fargo & Company were worth $40,211,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Core Wealth Advisors Inc. acquired 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 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after buying an additional 220 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $32,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $34,000. Finally, Beaird Harris Wealth Management LLC acquired 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 stock.

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 reduced their price target for the stock from $62.00 to $59.00 in a report on Friday, August 16th. 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 research note on Wednesday. Finally, Evercore ISI reduced their target price on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Stock Up 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 capitalization 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) 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 .8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 earnings per share. On average, equities analysts predict that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a $0.40 dividend. This represents a $1.60 dividend 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 9th. Wells Fargo & Company’s dividend payout ratio is presently 32.85%.

Wells Fargo & Company Company Profile

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.