Ferguson Wellman Capital Management Inc. Raises Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 1,090.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 381,272 shares of the financial services provider's stock after acquiring an additional 349,251 shares during the period. Ferguson Wellman Capital Management Inc.'s holdings in Wells Fargo & Company were worth $26,781,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of WFC. Income Research & Management acquired a new position in Wells Fargo & Company in the third quarter valued at $211,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $35,000. Finally, Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley lifted their price objective 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. Truist Financial lifted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Evercore ISI increased their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Royal Bank of Canada reiterated a "sector perform" rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Finally, Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $73.39.

Wells Fargo & Company Trading Down 0.8 %

Shares of WFC opened at $80.76 on Monday. 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 $47.47 and a 1-year high of $81.50. The stock has a market cap of $268.89 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. The firm has a 50 day simple moving average of $73.89 and a 200-day simple moving average of $65.47.

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, topping the consensus estimate 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 company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the business posted $0.86 earnings per share. Wells Fargo & Company's revenue was down .5% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 1.98%. 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.

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