Steigerwald Gordon & Koch Inc. Buys 3,913 Shares of Wells Fargo & Company (NYSE:WFC)

Steigerwald Gordon & Koch Inc. raised its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 341,746 shares of the financial services provider's stock after buying an additional 3,913 shares during the period. Wells Fargo & Company accounts for 2.7% of Steigerwald Gordon & Koch Inc.'s holdings, making the stock its 11th largest holding. Steigerwald Gordon & Koch Inc.'s holdings in Wells Fargo & Company were worth $24,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in WFC. Kelly Financial Services LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at $5,056,000. Cadinha & Co. LLC raised its stake in shares of Wells Fargo & Company by 1.6% during the fourth quarter. Cadinha & Co. LLC now owns 24,954 shares of the financial services provider's stock valued at $1,753,000 after acquiring an additional 382 shares during the last quarter. Aaron Wealth Advisors LLC raised its stake in shares of Wells Fargo & Company by 10.5% during the fourth quarter. Aaron Wealth Advisors LLC now owns 19,628 shares of the financial services provider's stock valued at $1,379,000 after acquiring an additional 1,862 shares during the last quarter. Moss Adams Wealth Advisors LLC raised its stake in shares of Wells Fargo & Company by 15.8% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 12,400 shares of the financial services provider's stock valued at $871,000 after acquiring an additional 1,692 shares during the last quarter. Finally, Veery Capital LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at $213,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WFC shares. Barclays lifted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday. Wolfe Research raised shares of Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 target price for the company in a research note on Tuesday, October 8th. Phillip Securities raised shares of Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and lifted their target price for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Finally, Piper Sandler lifted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of "Hold" and an average target price of $73.39.

Wells Fargo & Company Stock Up 1.7 %

Shares of NYSE WFC traded up $1.27 during mid-day trading on Monday, reaching $77.22. 20,609,919 shares of the company's stock traded hands, compared to its average volume of 12,688,081. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. The stock has a market cap of $257.11 billion, a P/E ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18. The business has a 50-day simple moving average of $72.74 and a 200 day simple moving average of $63.48. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. During the same period in the previous year, the company earned $0.86 earnings per share. The firm's revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts expect that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 33.26%.

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.