3,224 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by Granite Harbor Advisors Inc.

Granite Harbor Advisors Inc. bought a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,224 shares of the financial services provider's stock, valued at approximately $226,000.

Several other large investors have also recently bought and sold shares of the stock. Quad Cities Investment Group LLC increased its stake in shares of Wells Fargo & Company by 0.3% during the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider's stock valued at $3,693,000 after acquiring an additional 158 shares during the period. Investors Research Corp increased its position in shares of Wells Fargo & Company by 1.2% during the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider's stock valued at $760,000 after purchasing an additional 160 shares during the period. Ellenbecker Investment Group increased its position in shares of Wells Fargo & Company by 3.9% during the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider's stock valued at $250,000 after purchasing an additional 164 shares during the period. Income Research & Management bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth $211,000. Finally, Modera Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 0.9% in the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider's stock valued at $1,018,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 0.7 %

Shares of NYSE:WFC opened at $78.89 on Friday. The firm has a fifty day moving average of $73.45 and a two-hundred day moving average of $64.48. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $79.24. The firm has a market capitalization of $262.67 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion during the quarter, compared to analysts' expectations of $20.58 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The business's revenue for the quarter was down .5% on a year-over-year basis. On average, equities analysts expect that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company's payout ratio is 29.74%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on WFC shares. UBS Group lifted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Piper Sandler increased their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Compass Point lifted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Barclays increased their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Finally, Morgan Stanley lifted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $73.39.

Wells Fargo & Company 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.

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.