Washington Capital Management Inc. Takes $232,000 Position in Wells Fargo & Company (NYSE:WFC)

Washington Capital Management Inc. acquired a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,300 shares of the financial services provider's stock, valued at approximately $232,000.

Other institutional investors have also recently bought and sold shares of the company. Field & Main Bank boosted its stake in Wells Fargo & Company by 4.7% in the fourth quarter. Field & Main Bank now owns 8,250 shares of the financial services provider's stock valued at $579,000 after buying an additional 368 shares in the last quarter. Allen Capital Group LLC boosted its position in Wells Fargo & Company by 10.9% in the fourth quarter. Allen Capital Group LLC now owns 8,056 shares of the financial services provider's stock valued at $566,000 after buying an additional 792 shares in the last quarter. Strategic Blueprint LLC increased its holdings in shares of Wells Fargo & Company by 12.7% during the fourth quarter. Strategic Blueprint LLC now owns 5,466 shares of the financial services provider's stock worth $384,000 after buying an additional 618 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Wells Fargo & Company by 2,510.3% in the 4th quarter. Hantz Financial Services Inc. now owns 91,543 shares of the financial services provider's stock valued at $6,430,000 after acquiring an additional 88,036 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $264,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 0.7 %

Shares of Wells Fargo & Company stock traded up $0.57 during midday trading on Thursday, hitting $78.94. The company had a trading volume of 4,413,685 shares, compared to its average volume of 14,650,088. The company has a 50 day moving average of $73.45 and a 200 day moving average of $64.48. The stock has a market capitalization of $262.83 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 52-week low of $47.45 and a 52-week high of $79.24. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

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

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. Wells Fargo & Company's dividend payout ratio (DPR) is 29.74%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WFC. Truist Financial boosted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Phillip Securities raised shares of Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and increased their target price for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Citigroup upped their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th. The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. Eleven 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, Wells Fargo & Company currently has a consensus rating of "Hold" and an average target price of $73.39.

About Wells Fargo & Company

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.