Nebula Research & Development LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,209 shares of the financial services provider's stock, valued at approximately $1,068,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $26,000. Investment Counsel Co. of Nevada acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $28,000. Rakuten Securities Inc. boosted its holdings in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter worth approximately $30,000. 75.90% of the stock is owned by institutional investors and hedge funds.
Wells Fargo & Company Stock Performance
NYSE WFC opened at $69.72 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The business's 50 day moving average is $70.01 and its two-hundred day moving average is $71.53. The stock has a market capitalization of $227.65 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. Wells Fargo & Company's quarterly revenue was down 3.4% on a year-over-year basis. Research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.
Wells Fargo & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is currently 28.73%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the stock. Citigroup dropped their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Raymond James cut their target price on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating on the stock in a research report on Monday, April 14th. Piper Sandler dropped their price target on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a report on Thursday, March 13th. Finally, Bank of America lowered their target price on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $75.34.
Check Out Our Latest Report on Wells Fargo & Company
Wells Fargo & Company Company Profile
(
Free Report)
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.
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