OneAscent Financial Services LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 31.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 26,389 shares of the financial services provider's stock after purchasing an additional 6,376 shares during the quarter. OneAscent Financial Services LLC's holdings in Wells Fargo & Company were worth $1,854,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in WFC. Rialto Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $26,000. Rakuten Securities Inc. lifted its holdings in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after buying an additional 237 shares during the period. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter worth about $30,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter worth about $32,000. Institutional investors own 75.90% of the company's stock.
Wall Street Analyst Weigh In
WFC has been the topic of several research analyst reports. Piper Sandler upped their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Barclays increased their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price objective on shares of 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. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Finally, Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target for the company in a research note on Thursday, March 13th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $75.39.
View Our Latest Stock Report on Wells Fargo & Company
Wells Fargo & Company Stock Up 1.4 %
Wells Fargo & Company stock traded up $1.02 during trading on Wednesday, hitting $72.33. 8,823,973 shares of the company were exchanged, compared to its average volume of 17,106,851. The company has a market capitalization of $236.17 billion, a P/E ratio of 13.44, a PEG ratio of 1.18 and a beta of 1.16. The business's 50 day moving average is $75.50 and its 200 day moving average is $70.43. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.
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 (EPS) for the quarter, topping 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 firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The business's revenue was down .5% compared to the same quarter last year. Analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.
Wells Fargo & Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders 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 annualized dividend and a yield of 2.21%. Wells Fargo & Company's dividend payout ratio (DPR) is 29.74%.
Wells Fargo & Company Company Profile
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Free Report)
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.
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