Jessup Wealth Management Inc Invests $224,000 in Wells Fargo & Company (NYSE:WFC)

Jessup Wealth Management Inc bought a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,194 shares of the financial services provider's stock, valued at approximately $224,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Income Research & Management bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at about $211,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Wells Fargo & Company in the fourth quarter worth approximately $35,000. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

WFC has been the subject of a number of analyst reports. Truist Financial increased their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Barclays lifted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Finally, Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC traded down $1.66 during trading on Thursday, reaching $78.69. 14,800,325 shares of the company's stock traded hands, compared to its average volume of 15,174,527. The firm has a market cap of $262.00 billion, a PE ratio of 14.63, a P/E/G ratio of 1.21 and a beta of 1.18. The company has a 50-day simple moving average of $74.90 and a 200-day simple moving average of $66.64. 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 fifty-two week low of $50.15 and a fifty-two week high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company's quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 EPS. As a group, analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. Wells Fargo & Company's payout ratio is currently 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.