Quantum Private Wealth LLC Buys Shares of 3,463 Wells Fargo & Company (NYSE:WFC)

Quantum Private Wealth LLC bought a new position in Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,463 shares of the financial services provider's stock, valued at approximately $243,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Empowered Funds LLC boosted its position in Wells Fargo & Company by 19.1% in the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock worth $13,369,000 after purchasing an additional 30,510 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Wells Fargo & Company by 37.2% during the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock worth $36,055,000 after buying an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp grew its position in Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock valued at $10,031,000 after buying an additional 26,320 shares during the period. Chartwell Investment Partners LLC increased its holdings in Wells Fargo & Company by 16.4% in the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider's stock valued at $7,504,000 after buying an additional 18,717 shares in the last quarter. Finally, Argus Investors Counsel Inc. raised its position in shares of Wells Fargo & Company by 34.6% in the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider's stock worth $1,780,000 after acquiring an additional 8,107 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 0.5 %

NYSE:WFC traded down $0.40 during trading hours on Wednesday, hitting $80.38. The company had a trading volume of 13,916,450 shares, compared to its average volume of 15,186,192. Wells Fargo & Company has a 1 year low of $50.15 and a 1 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 company has a 50-day moving average of $74.72 and a 200 day moving average of $66.55. The company has a market cap of $267.63 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.20 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $20.38 billion during the quarter, compared to analysts' expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company's revenue was down .5% compared to the same quarter last year. During the same period last year, the business earned $0.86 earnings per share. Sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company's dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on WFC shares. The Goldman Sachs Group raised their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Morgan Stanley raised their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Finally, UBS Group boosted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of "Hold" and an average target price of $73.39.

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.