Northstar Group Inc. Takes $244,000 Position in Wells Fargo & Company (NYSE:WFC)

Northstar Group Inc. bought a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,474 shares of the financial services provider's stock, valued at approximately $244,000.

A number of other hedge funds also recently bought and sold shares of WFC. Truvestments Capital LLC purchased a new position in Wells Fargo & Company in the 3rd quarter worth approximately $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $30,000. Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. purchased a new position in Wells Fargo & Company in the 3rd quarter worth approximately $34,000. Finally, FSA Wealth Management LLC purchased a new position in Wells Fargo & Company in the 3rd quarter worth approximately $34,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Down 2.3 %

Wells Fargo & Company stock traded down $1.86 during mid-day trading on Monday, hitting $78.81. The company had a trading volume of 8,308,403 shares, compared to its average volume of 14,943,897. 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 stock's 50 day moving average price is $73.89 and its two-hundred day moving average price is $65.51. Wells Fargo & Company has a 12 month low of $47.59 and a 12 month high of $81.50. The company has a market capitalization of $262.41 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The company's revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced 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. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is 29.74%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WFC shares. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Evercore ISI boosted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Piper Sandler boosted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. 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. Finally, Barclays boosted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $73.39.

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.