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M.E. Allison & CO. Inc. Takes $1.36 Million Position in Wells Fargo & Company (NYSE:WFC)

Wells Fargo & Company logo with Finance background

M.E. Allison & CO. Inc. purchased a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 19,384 shares of the financial services provider's stock, valued at approximately $1,361,000. Wells Fargo & Company makes up about 1.5% of M.E. Allison & CO. Inc.'s holdings, making the stock its 18th biggest position.

A number of other institutional investors also recently modified their holdings of the company. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company during the second quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company during the second quarter worth approximately $26,000. Truvestments Capital LLC acquired a new position in Wells Fargo & Company during the 3rd quarter valued at about $29,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $30,000. Finally, Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth about $32,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WFC shares. Wolfe Research upgraded shares of Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. Barclays upped their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday. Piper Sandler lifted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Evercore ISI upped their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Finally, Truist Financial increased their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of "Hold" and an average price target of $73.39.

Get Our Latest Research Report on WFC

Wells Fargo & Company Stock Up 1.7 %

Shares of NYSE WFC traded up $1.27 during midday trading on Monday, hitting $77.22. The company's stock had a trading volume of 20,609,919 shares, compared to its average volume of 12,688,081. The firm has a market capitalization of $257.11 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The business's fifty day simple moving average is $72.74 and its two-hundred day simple moving average is $63.48.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business'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. On average, equities analysts predict that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. Wells Fargo & Company's payout ratio is 33.26%.

Wells Fargo & Company Profile

(Free Report)

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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