3,853 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by Fi3 FINANCIAL ADVISORS LLC

Fi3 FINANCIAL ADVISORS LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,853 shares of the financial services provider's stock, valued at approximately $271,000.

Other hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in shares of Wells Fargo & Company by 19.1% in the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after buying an additional 30,510 shares during the period. Rockefeller Capital Management L.P. raised its holdings in shares of Wells Fargo & Company by 37.2% in the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock worth $36,055,000 after acquiring an additional 173,083 shares during the last quarter. Atlantic Union Bankshares Corp boosted its stake in shares of Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock valued at $10,031,000 after acquiring an additional 26,320 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Wells Fargo & Company by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider's stock valued at $58,055,000 after buying an additional 131,322 shares during the last quarter. Finally, Valmark Advisers Inc. grew its stake in Wells Fargo & Company by 5.5% in the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock worth $583,000 after acquiring an additional 431 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Truist Financial boosted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Finally, Citigroup cut their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of "Moderate Buy" and an average target price of $74.18.

Wells Fargo & Company Stock Down 1.1 %

NYSE WFC traded down $0.79 during trading on Wednesday, reaching $73.45. The company's stock had a trading volume of 10,847,631 shares, compared to its average volume of 16,388,590. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The business has a 50-day moving average price of $76.09 and a 200-day moving average price of $69.76. The stock has a market capitalization of $239.83 billion, a PE ratio of 13.65, a PEG ratio of 1.18 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly 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 company had revenue of $20.38 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. On average, research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 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.