First National Bank of Hutchinson Takes Position in Wells Fargo & Company (NYSE:WFC)

First National Bank of Hutchinson acquired a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,029 shares of the financial services provider's stock, valued at approximately $423,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strategic Financial Services Inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth about $215,000. Royal London Asset Management Ltd. lifted its position in shares of Wells Fargo & Company by 0.4% during the fourth quarter. Royal London Asset Management Ltd. now owns 1,539,724 shares of the financial services provider's stock worth $108,150,000 after acquiring an additional 5,938 shares in the last quarter. Algebris UK Ltd lifted its position in shares of Wells Fargo & Company by 0.6% during the fourth quarter. Algebris UK Ltd now owns 128,195 shares of the financial services provider's stock worth $8,697,000 after acquiring an additional 706 shares in the last quarter. Generali Investments Management Co LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $1,205,000. Finally, GM Advisory Group LLC grew its position in shares of Wells Fargo & Company by 58.4% in the fourth quarter. GM Advisory Group LLC now owns 27,131 shares of the financial services provider's stock valued at $1,906,000 after purchasing an additional 10,002 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WFC shares. Truist Financial increased 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. Barclays increased their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. The Goldman Sachs Group boosted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Citigroup lowered their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, Morgan Stanley raised their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Wells Fargo & Company has a consensus rating of "Moderate Buy" and a consensus price target of $74.18.

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Wells Fargo & Company Trading Up 2.4 %

Shares of WFC traded up $1.76 during trading hours on Monday, hitting $74.28. The company had a trading volume of 10,685,753 shares, compared to its average volume of 16,418,545. The firm has a market cap of $244.25 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The stock's 50 day moving average price is $75.95 and its 200 day moving average price is $69.50. 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 (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share 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 during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The business's quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.74%.

Wells Fargo & 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.