First American Trust FSB Makes New Investment in Wells Fargo & Company (NYSE:WFC)

First American Trust FSB purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 145,107 shares of the financial services provider's stock, valued at approximately $10,192,000. Wells Fargo & Company makes up approximately 1.0% of First American Trust FSB's investment portfolio, making the stock its 29th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $26,000. Truvestments Capital LLC bought a new position in Wells Fargo & Company during the third quarter valued at approximately $29,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the 4th quarter worth approximately $30,000. Finally, Rakuten Securities Inc. raised its stake in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after buying an additional 237 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded down $1.78 during midday trading on Friday, reaching $70.50. 8,507,126 shares of the stock traded hands, compared to its average volume of 17,111,704. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The stock's fifty day moving average is $75.97 and its 200-day moving average is $69.80. The stock has a market cap of $230.19 billion, a P/E ratio of 13.09, a PEG ratio of 1.18 and a beta of 1.16.

Remove Ads

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $20.38 billion for the quarter, compared to analysts' expectations 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 for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 earnings per share. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed 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. This represents a $1.60 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's payout ratio is 29.74%.

Analyst Ratings Changes

Several brokerages recently commented on WFC. Truist Financial lifted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Citigroup cut their price target on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday. Piper Sandler upped their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Barclays boosted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Finally, Morgan Stanley increased their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eleven have issued 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 an average price target of $74.18.

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.