New Age Alpha Advisors LLC Buys New Position in Wells Fargo & Company (NYSE:WFC)

New Age Alpha Advisors LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 65,905 shares of the financial services provider's stock, valued at approximately $4,629,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $26,000. Rakuten Securities Inc. grew its stake in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after buying an additional 237 shares in the last quarter. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $30,000. McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $30,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth $32,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC traded down $0.66 during midday trading on Tuesday, reaching $71.13. The company had a trading volume of 3,143,845 shares, compared to its average volume of 17,077,041. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The business's 50-day simple moving average is $75.73 and its 200 day simple moving average is $70.29. The stock has a market cap of $232.24 billion, a P/E ratio of 13.21, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50.

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Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly 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 company had revenue of $20.38 billion during the quarter, compared to analysts' expectations 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 last year, the business earned $0.86 earnings per share. On average, analysts forecast 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 declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. Wells Fargo & Company's payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Truist Financial upped their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, January 16th. UBS Group increased their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. 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. Finally, Barclays raised their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $74.97.

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.