Atlantic Union Bankshares Corp increased its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 10.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 196,584 shares of the financial services provider's stock after acquiring an additional 19,014 shares during the quarter. Atlantic Union Bankshares Corp's holdings in Wells Fargo & Company were worth $13,808,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $26,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the 4th quarter valued at $30,000. Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company in the 4th quarter valued at $32,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in Wells Fargo & Company in the 4th quarter valued at $35,000. 75.90% of the stock is owned by institutional investors and hedge funds.
Wells Fargo & Company Trading Down 2.3 %
Shares of WFC stock opened at $71.01 on Friday. The stock has a market cap of $233.50 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 1.18 and a beta of 1.16. The stock has a 50-day moving average of $76.10 and a 200-day moving average of $68.41. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate 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 company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The firm's revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.
Wells Fargo & Company Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. Wells Fargo & Company's payout ratio is 29.74%.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Compass Point boosted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Barclays upped their target price 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. Morgan Stanley upped their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Citigroup upped their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a "neutral" rating in a research report on Tuesday, November 19th. Finally, Piper Sandler upped their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $73.39.
View Our Latest Report on WFC
About Wells Fargo & Company
(
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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