Michael A. Dubis Financial Planning LLC Invests $456,000 in Wells Fargo & Company (NYSE:WFC)

Michael A. Dubis Financial Planning LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,492 shares of the financial services provider's stock, valued at approximately $456,000.

Other hedge funds also recently made changes to their positions in the company. OneAscent Wealth Management LLC increased its position in Wells Fargo & Company by 1.9% during the fourth quarter. OneAscent Wealth Management LLC now owns 8,623 shares of the financial services provider's stock worth $606,000 after purchasing an additional 161 shares during the last quarter. Allstate Corp purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $7,135,000. Maridea Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $381,000. DnB Asset Management AS increased its stake in Wells Fargo & Company by 2.1% during the 4th quarter. DnB Asset Management AS now owns 613,324 shares of the financial services provider's stock worth $43,080,000 after buying an additional 12,352 shares during the period. Finally, NBZ Investment Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $795,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on WFC. Truist Financial upped their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods boosted their target price on 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. Barclays lifted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Morgan Stanley set a $79.00 price target on shares of Wells Fargo & Company in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $75.55.

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Wells Fargo & Company Stock Down 7.5 %

Shares of WFC stock traded down $5.39 during mid-day trading on Thursday, hitting $66.87. The company's stock had a trading volume of 13,140,653 shares, compared to its average volume of 17,093,658. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The business has a 50-day moving average price of $75.50 and a 200 day moving average price of $70.43. The stock has a market cap of $218.34 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the firm posted $0.86 EPS. The firm's revenue was down .5% compared to the same quarter last year. Research analysts predict that Wells Fargo & Company will post 5.89 EPS 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. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's payout ratio is 29.74%.

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.