Strategic Financial Concepts LLC Takes Position in Wells Fargo & Company (NYSE:WFC)

Strategic Financial Concepts LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 32,210 shares of the financial services provider's stock, valued at approximately $2,262,000.

A number of other large investors also recently bought and sold shares of WFC. Income Research & Management acquired a new stake in Wells Fargo & Company in the third quarter valued at about $211,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at approximately $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at $30,000. Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Evercore ISI lifted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Barclays raised 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 report on Thursday, January 16th. UBS Group increased their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Compass Point boosted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Finally, Truist Financial increased their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of "Hold" and a consensus price target of $73.39.

Wells Fargo & Company Stock Performance

WFC traded up $0.11 during trading hours on Friday, hitting $78.74. 3,847,263 shares of the stock were exchanged, compared to its average volume of 14,828,656. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The stock has a 50-day simple moving average of $75.06 and a 200-day simple moving average of $66.73. The stock has a market cap of $262.15 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the business posted $0.86 EPS. The company's quarterly revenue was down .5% on a year-over-year basis. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) 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.