Axis Wealth Partners LLC purchased a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,467 shares of the financial services provider's stock, valued at approximately $454,000.
Other large investors have also modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $26,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $32,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 75.90% of the company's stock.
Wells Fargo & Company Trading Down 2.3 %
NYSE WFC traded down $1.64 during trading hours on Friday, reaching $71.01. The company had a trading volume of 21,254,105 shares, compared to its average volume of 16,563,040. 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 stock has a market capitalization of $233.50 billion, a P/E ratio of 13.20, a price-to-earnings-growth 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 $68.59. 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 issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion for 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 business's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.74%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Citigroup upped their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. Truist Financial upped their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Compass Point boosted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $73.39.
Get Our Latest Analysis on Wells Fargo & Company
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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