Centerpoint Advisory Group Takes $292,000 Position in Wells Fargo & Company (NYSE:WFC)

Centerpoint Advisory Group bought a new position in Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,159 shares of the financial services provider's stock, valued at approximately $292,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WFC. Everhart Financial Group Inc. raised its holdings in shares of Wells Fargo & Company by 11.4% during the 4th quarter. Everhart Financial Group Inc. now owns 18,564 shares of the financial services provider's stock valued at $1,304,000 after buying an additional 1,897 shares in the last quarter. Vivid Wealth Management LLC grew its position in Wells Fargo & Company by 2.0% during the fourth quarter. Vivid Wealth Management LLC now owns 16,912 shares of the financial services provider's stock valued at $1,188,000 after acquiring an additional 325 shares during the last quarter. Roxbury Financial LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $2,321,000. Manchester Capital Management LLC lifted its holdings in shares of Wells Fargo & Company by 2.0% in the 4th quarter. Manchester Capital Management LLC now owns 8,953 shares of the financial services provider's stock worth $629,000 after acquiring an additional 175 shares during the last quarter. Finally, WealthPlan Investment Management LLC boosted its stake in shares of Wells Fargo & Company by 17.4% in the 4th quarter. WealthPlan Investment Management LLC now owns 10,606 shares of the financial services provider's stock valued at $745,000 after purchasing an additional 1,572 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Down 0.5 %

Shares of WFC traded down $0.40 during trading hours on Wednesday, hitting $80.38. The company had a trading volume of 13,916,450 shares, compared to its average volume of 15,186,192. The stock has a market capitalization of $267.63 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 1.20 and a beta of 1.18. The firm has a fifty day moving average price of $74.72 and a 200-day moving average price of $66.55. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analysts' expectations 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 previous year, the company earned $0.86 earnings per share. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company's payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on WFC shares. The Goldman Sachs Group increased their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a report on Friday, December 6th. Evercore ISI increased their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods upped their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a report on Thursday, January 16th. Citigroup raised their price target 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. Finally, 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. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $73.39.

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.