Wells Fargo & Company (NYSE:WFC) Holdings Raised by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC boosted its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 8.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,601 shares of the financial services provider's stock after purchasing an additional 12,028 shares during the quarter. Orion Portfolio Solutions LLC's holdings in Wells Fargo & Company were worth $10,859,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Spinnaker Trust lifted its holdings in Wells Fargo & Company by 1.8% in the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock worth $520,000 after buying an additional 130 shares in the last quarter. MONECO Advisors LLC grew its holdings in Wells Fargo & Company by 1.9% during the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock worth $493,000 after acquiring an additional 134 shares in the last quarter. Crown Wealth Group LLC raised its stake in shares of Wells Fargo & Company by 2.2% in the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock valued at $467,000 after purchasing an additional 140 shares in the last quarter. Jacobsen Capital Management lifted its position in shares of Wells Fargo & Company by 2.8% during the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock worth $381,000 after purchasing an additional 148 shares during the last quarter. Finally, New Republic Capital LLC grew its stake in Wells Fargo & Company by 2.9% in the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider's stock worth $369,000 after purchasing an additional 149 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a report on Friday, December 6th. Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a report on Thursday, March 13th. UBS Group boosted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Piper Sandler raised their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley upped their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of "Moderate Buy" and an average price target of $74.97.

Wells Fargo & Company Price Performance

NYSE:WFC traded down $0.68 during midday trading on Tuesday, hitting $71.11. 3,143,845 shares of the stock were exchanged, compared to its average volume of 17,077,149. Wells Fargo & Company has a one year low of $50.15 and a one year 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. The business has a 50-day moving average price of $75.73 and a two-hundred day moving average price of $70.29. The company has a market capitalization of $232.18 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 earned $0.86 earnings per share. Wells Fargo & Company's revenue was down .5% compared to the same quarter last year. Sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. 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.