BXM Wealth LLC Invests $230,000 in Wells Fargo & Company (NYSE:WFC)

BXM Wealth LLC acquired a new stake 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 acquired 3,276 shares of the financial services provider's stock, valued at approximately $230,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. National Pension Service raised its holdings in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock valued at $383,532,000 after buying an additional 897,195 shares during the period. Diamond Hill Capital Management Inc. raised 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 valued at $375,183,000 after buying an additional 162,066 shares during the period. Nordea Investment Management AB raised its holdings in shares of 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 valued at $441,983,000 after buying an additional 575,892 shares during the period. Two Sigma Advisers LP grew its stake in Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock worth $336,375,000 after purchasing an additional 5,237,500 shares in the last quarter. Finally, Canoe Financial LP acquired a new position in Wells Fargo & Company during the 3rd quarter worth $160,529,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Compass Point boosted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Morgan Stanley boosted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Barclays boosted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Finally, Truist Financial boosted their target price 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. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of "Hold" and an average target price of $73.39.

Wells Fargo & Company Stock Performance

WFC traded down $0.40 on Wednesday, hitting $80.38. 13,916,450 shares of the company traded hands, compared to its average volume of 15,186,192. The company has a 50 day moving average of $74.72 and a 200-day moving average of $66.55. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $267.63 billion, a PE ratio of 14.94, a PEG ratio of 1.20 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm's revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.86 EPS. Sell-side analysts anticipate 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 will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Friday, February 7th. 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.