Braun Stacey Associates Inc. Acquires 23,035 Shares of Wells Fargo & Company (NYSE:WFC)

Braun Stacey Associates Inc. grew its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 409,900 shares of the financial services provider's stock after purchasing an additional 23,035 shares during the period. Wells Fargo & Company comprises about 1.1% of Braun Stacey Associates Inc.'s holdings, making the stock its 27th largest holding. Braun Stacey Associates Inc.'s holdings in Wells Fargo & Company were worth $28,791,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC bought a new stake in Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $30,000. Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $32,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Wells Fargo & Company during the 3rd quarter worth approximately $34,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WFC. Truist Financial upped their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Barclays lifted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Piper Sandler raised 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. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, Citigroup lifted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $73.39.

Wells Fargo & Company Trading Up 0.5 %

NYSE WFC traded up $0.41 during trading hours on Friday, hitting $79.04. 5,632,795 shares of the company were exchanged, compared to its average volume of 14,884,802. The stock has a market cap of $263.17 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The stock has a 50-day moving average price of $75.06 and a 200 day moving average price of $66.73. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released 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. The company had revenue of $20.38 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. Analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.02%. Wells Fargo & Company's payout ratio is 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.