Forum Financial Management LP Boosts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Forum Financial Management LP boosted its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,896 shares of the financial services provider's stock after buying an additional 7,139 shares during the period. Forum Financial Management LP's holdings in Wells Fargo & Company were worth $3,926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Morse Asset Management Inc bought a new position in shares of Wells Fargo & Company in the third quarter valued at $487,000. Tudor Financial Inc. bought a new stake in Wells Fargo & Company in the 3rd quarter worth about $468,000. Anchor Investment Management LLC increased its position in shares of Wells Fargo & Company by 5.5% during the 3rd quarter. Anchor Investment Management LLC now owns 15,903 shares of the financial services provider's stock valued at $898,000 after purchasing an additional 836 shares during the last quarter. World Investment Advisors LLC raised its stake in shares of Wells Fargo & Company by 1,263.8% during the 3rd quarter. World Investment Advisors LLC now owns 75,432 shares of the financial services provider's stock worth $4,261,000 after purchasing an additional 69,901 shares during the period. Finally, Tidal Investments LLC boosted its holdings in shares of Wells Fargo & Company by 4.5% in the 3rd quarter. Tidal Investments LLC now owns 138,813 shares of the financial services provider's stock worth $7,842,000 after buying an additional 5,946 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on WFC shares. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, April 14th. Keefe, Bruyette & Woods upped their price target 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. Piper Sandler lowered their target price on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. 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 report on Monday, March 24th. Finally, JPMorgan Chase & Co. dropped their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $75.34.

Wells Fargo & Company Price Performance

WFC stock traded up $0.65 during trading on Friday, hitting $64.63. 18,930,900 shares of the company's stock traded hands, compared to its average volume of 17,516,893. The business has a fifty day simple moving average of $71.23 and a 200 day simple moving average of $71.16. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $211.02 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The company's revenue for the quarter was down 3.4% on a year-over-year basis. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

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.