Root Financial Partners LLC Purchases New Holdings in Wells Fargo & Company (NYSE:WFC)

Root Financial Partners LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,253 shares of the financial services provider's stock, valued at approximately $228,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Jacobsen Capital Management raised its holdings in shares of Wells Fargo & Company by 2.8% during the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock worth $381,000 after buying an additional 148 shares in the last quarter. New Republic Capital LLC raised its holdings in shares of Wells Fargo & Company by 2.9% during the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider's stock worth $369,000 after buying an additional 149 shares in the last quarter. Quad Cities Investment Group LLC raised its holdings in shares of Wells Fargo & Company by 0.3% during the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider's stock worth $3,693,000 after buying an additional 158 shares in the last quarter. Investors Research Corp increased its holdings in Wells Fargo & Company by 1.2% in the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider's stock worth $760,000 after purchasing an additional 160 shares in the last quarter. Finally, Ellenbecker Investment Group increased its holdings in Wells Fargo & Company by 3.9% in the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider's stock worth $250,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 0.9 %

Shares of Wells Fargo & Company stock traded up $0.73 on Tuesday, hitting $80.71. The company had a trading volume of 15,122,030 shares, compared to its average volume of 15,056,220. The stock has a market capitalization of $268.72 billion, a price-to-earnings ratio of 15.00, a P/E/G ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The stock has a 50 day moving average of $74.55 and a 200-day moving average of $66.35. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

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

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company's payout ratio is 29.74%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent research reports. Barclays upped their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Evercore ISI upped their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Piper Sandler upped their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Finally, Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus 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.