NBZ Investment Advisors LLC Takes $795,000 Position in Wells Fargo & Company (NYSE:WFC)

NBZ Investment Advisors LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,318 shares of the financial services provider's stock, valued at approximately $795,000. Wells Fargo & Company accounts for approximately 0.4% of NBZ Investment Advisors LLC's portfolio, making the stock its 25th biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of WFC. Empowered Funds LLC grew its position in Wells Fargo & Company by 19.1% during the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after purchasing an additional 30,510 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Wells Fargo & Company by 37.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock valued at $36,055,000 after acquiring an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp increased its stake in shares of Wells Fargo & Company by 17.4% in the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock worth $10,031,000 after acquiring an additional 26,320 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Wells Fargo & Company by 14.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider's stock valued at $58,055,000 after purchasing an additional 131,322 shares during the last quarter. Finally, Valmark Advisers Inc. grew its stake in Wells Fargo & Company by 5.5% in the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock valued at $583,000 after purchasing an additional 431 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WFC. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a report on Monday, December 9th. Barclays lifted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Citigroup dropped their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Truist Financial lifted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $74.97.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC traded down $1.57 on Friday, hitting $70.71. 13,550,316 shares of the company were exchanged, compared to its average volume of 17,140,434. The company's 50 day moving average price is $75.84 and its two-hundred day moving average price is $70.03. The firm has a market capitalization of $230.87 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.18 and a beta of 1.16. 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 one year low of $50.15 and a one year high of $81.50.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The company's quarterly revenue was down .5% compared to the same quarter last year. Research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. Wells Fargo & Company's payout ratio is 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.