Amarillo National Bank Makes New $242,000 Investment in Wells Fargo & Company (NYSE:WFC)

Amarillo National Bank purchased a new position in Wells Fargo & Company (NYSE:WFC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,450 shares of the financial services provider's stock, valued at approximately $242,000.

A number of other institutional investors have also recently made changes to their positions in the company. Spinnaker Trust increased its position in shares of Wells Fargo & Company by 1.8% during the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock worth $520,000 after purchasing an additional 130 shares during the last quarter. Jacobsen Capital Management raised its stake in shares of Wells Fargo & Company by 2.8% in the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock valued at $381,000 after acquiring an additional 148 shares in the last quarter. New Republic Capital LLC grew its position in shares of Wells Fargo & Company by 2.9% during the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider's stock worth $369,000 after buying an additional 149 shares in the last quarter. Quad Cities Investment Group LLC raised its holdings in shares of Wells Fargo & Company by 0.3% in the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider's stock valued at $3,693,000 after purchasing an additional 158 shares in the last quarter. Finally, Investors Research Corp increased its holdings in Wells Fargo & Company by 1.2% in the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider's stock valued at $760,000 after buying an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on WFC shares. Evercore ISI lifted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Piper Sandler boosted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. UBS Group raised their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a report on Monday, December 9th. Finally, Morgan Stanley raised their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research note 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, the stock presently has a consensus rating of "Hold" and an average price target of $73.39.

Wells Fargo & Company Stock Down 0.5 %

NYSE:WFC traded down $0.40 on Wednesday, reaching $80.38. The stock had a trading volume of 13,916,450 shares, compared to its average volume of 15,186,192. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The stock has a market cap of $267.63 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18. 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 company has a 50-day moving average of $74.72 and a 200 day moving average of $66.55.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company's quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. On average, research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 1.99%. Wells Fargo & Company's dividend payout ratio (DPR) is 29.74%.

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.