Sargent Investment Group LLC Buys Shares of 3,704 Wells Fargo & Company (NYSE:WFC)

Sargent Investment Group LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 3,704 shares of the financial services provider's stock, valued at approximately $261,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jacobsen Capital Management increased its stake in Wells Fargo & Company by 2.8% in the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock valued at $381,000 after purchasing an additional 148 shares in the last quarter. Quad Cities Investment Group LLC increased its position in shares of Wells Fargo & Company by 0.3% in the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider's stock valued at $3,693,000 after buying an additional 158 shares in the last quarter. Investors Research Corp raised its stake in Wells Fargo & Company by 1.2% during the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider's stock worth $760,000 after buying an additional 160 shares during the period. Ellenbecker Investment Group lifted its holdings in Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider's stock worth $250,000 after acquiring an additional 164 shares in the last quarter. Finally, Income Research & Management acquired a new position in Wells Fargo & Company in the third quarter valued at about $211,000. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WFC has been the topic of a number of research analyst reports. Barclays raised their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Piper Sandler increased their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Finally, UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $73.39.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $80.07 on Thursday. The firm's fifty day moving average price is $73.66 and its two-hundred day moving average price is $65.06. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $80.35. The firm has a market capitalization of $266.58 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. 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 issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. As a group, research analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company's payout ratio is presently 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.

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