Harvest Investment Services LLC Acquires Shares of 4,752 Wells Fargo & Company (NYSE:WFC)

Harvest Investment Services LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,752 shares of the financial services provider's stock, valued at approximately $334,000.

Other institutional investors have also modified their holdings of the company. Morse Asset Management Inc acquired a new stake in Wells Fargo & Company in the third quarter valued at $487,000. Tudor Financial Inc. acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at about $468,000. Anchor Investment Management LLC lifted its position in shares of Wells Fargo & Company by 5.5% during the third quarter. Anchor Investment Management LLC now owns 15,903 shares of the financial services provider's stock worth $898,000 after purchasing an additional 836 shares during the last quarter. World Investment Advisors LLC grew its stake in Wells Fargo & Company by 1,263.8% in the third 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 in the last quarter. Finally, Tidal Investments LLC grew its stake in Wells Fargo & Company by 4.5% in the third quarter. Tidal Investments LLC now owns 138,813 shares of the financial services provider's stock worth $7,842,000 after purchasing an additional 5,946 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 3.5 %

Shares of WFC stock opened at $66.24 on Wednesday. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year 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 business's fifty day moving average is $70.67 and its 200-day moving average is $71.28. The stock has a market cap of $216.28 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating 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 business had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. During the same quarter last year, the business posted $1.20 earnings per share. The company's quarterly revenue was down 3.4% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors 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 2.42%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is presently 28.73%.

Analyst Ratings Changes

A number of research firms have commented on WFC. Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, April 14th. Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a report on Thursday, March 13th. Truist Financial dropped their target price on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Citigroup decreased their price target on shares of 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, Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $75.34.

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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