CoreFirst Bank & Trust Makes New Investment in Wells Fargo & Company (NYSE:WFC)

CoreFirst Bank & Trust bought a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,925 shares of the financial services provider's stock, valued at approximately $346,000.

Several other hedge funds also recently modified their holdings of the stock. Spinnaker Trust lifted its stake in Wells Fargo & Company by 1.8% during the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock valued at $520,000 after acquiring an additional 130 shares in the last quarter. MONECO Advisors LLC lifted its position in shares of Wells Fargo & Company by 1.9% during the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock valued at $493,000 after purchasing an additional 134 shares in the last quarter. Crown Wealth Group LLC boosted its holdings in Wells Fargo & Company by 2.2% during the fourth quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock worth $467,000 after purchasing an additional 140 shares during the last quarter. Jacobsen Capital Management grew its position in Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock worth $381,000 after purchasing an additional 148 shares in the last quarter. Finally, New Republic Capital LLC increased its stake in Wells Fargo & Company by 2.9% in the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider's stock valued at $369,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

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Analysts Set New Price Targets

WFC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Citigroup reduced their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday. Barclays raised 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. UBS Group increased their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.18.

Wells Fargo & Company Stock Down 2.8 %

NYSE WFC traded down $2.00 during mid-day trading on Friday, reaching $70.28. The stock had a trading volume of 7,375,186 shares, compared to its average volume of 17,107,662. The company has a fifty day moving average price of $75.97 and a 200 day moving average price of $69.80. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The stock has a market cap of $229.47 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the company posted $0.86 earnings per share. The company's quarterly revenue was down .5% on a year-over-year basis. On average, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced 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 2.28%. Wells Fargo & Company's dividend payout ratio is presently 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.