Regal Investment Advisors LLC Purchases New Stake in Wells Fargo & Company (NYSE:WFC)

Regal Investment Advisors LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,079 shares of the financial services provider's stock, valued at approximately $286,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth about $26,000. Investment Counsel Co. of Nevada acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $28,000. Rakuten Securities Inc. grew its holdings in shares of 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 acquiring an additional 237 shares during the period. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $30,000. Finally, McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth $30,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays lowered their target price on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Raymond James dropped their target price on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a report on Monday, April 14th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Monday, April 7th. Bank of America dropped their price objective on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, Piper Sandler reduced their target price on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus price target of $75.34.

Wells Fargo & Company Trading Up 1.0 %

Shares of NYSE WFC traded up $0.65 on Friday, reaching $64.63. 18,930,900 shares of the company traded hands, compared to its average volume of 17,516,893. The stock has a market capitalization of $211.02 billion, a PE ratio of 12.01, a P/E/G ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two 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. The company has a 50 day moving average of $71.23 and a 200 day moving average of $71.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.16. The company had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the business earned $1.20 EPS. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.48%. Wells Fargo & Company's dividend payout ratio (DPR) is currently 28.73%.

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.