Apollon Wealth Management LLC Increases Position in Wells Fargo & Company (NYSE:WFC)

Apollon Wealth Management LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,368 shares of the financial services provider's stock after acquiring an additional 4,865 shares during the quarter. Apollon Wealth Management LLC's holdings in Wells Fargo & Company were worth $5,505,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. National Pension Service lifted its position in Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock worth $383,532,000 after buying an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Wells Fargo & Company by 2.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider's stock worth $375,183,000 after acquiring an additional 162,066 shares during the last quarter. Nordea Investment Management AB raised its position in Wells Fargo & Company by 10.1% in the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock worth $441,983,000 after purchasing an additional 575,892 shares during the period. Two Sigma Advisers LP grew its stake in shares of Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock valued at $336,375,000 after buying an additional 5,237,500 shares during the last quarter. Finally, Canoe Financial LP bought a new position in Wells Fargo & Company in the 3rd quarter valued at $160,529,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Truist Financial increased their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Piper Sandler boosted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Finally, Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded down $2.03 during midday trading on Monday, reaching $78.65. The company had a trading volume of 8,013,759 shares, compared to its average volume of 14,926,173. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 12-month low of $47.59 and a 12-month high of $81.50. The company has a market capitalization of $261.85 billion, a P/E ratio of 14.62, a P/E/G ratio of 1.22 and a beta of 1.18. The firm's fifty day simple moving average is $73.89 and its 200-day simple moving average is $65.51.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The company's revenue was down .5% compared to the same quarter last year. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 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 yield of 2.03%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.74%.

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.