Tower Research Capital LLC TRC Acquires 183,728 Shares of Wells Fargo & Company (NYSE:WFC)

Tower Research Capital LLC TRC grew its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 209.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 271,392 shares of the financial services provider's stock after acquiring an additional 183,728 shares during the period. Tower Research Capital LLC TRC's holdings in Wells Fargo & Company were worth $19,063,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $26,000. Investment Counsel Co. of Nevada bought a new stake in Wells Fargo & Company in the fourth quarter valued at $28,000. Rakuten Securities Inc. increased its position in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 237 shares during the period. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $30,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $30,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

NYSE WFC traded up $1.68 during trading hours on Wednesday, hitting $67.91. The company's stock had a trading volume of 20,671,473 shares, compared to its average volume of 17,513,976. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company's 50 day simple moving average is $70.67 and its two-hundred day simple moving average is $71.28. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market cap of $221.74 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. During the same period in the previous year, the company earned $1.20 earnings per share. The firm's quarterly revenue was down 3.4% on a year-over-year basis. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's payout ratio is currently 28.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Truist Financial decreased their price target on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, April 14th. Royal Bank of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. dropped their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, Morgan Stanley increased their price target on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $75.34.

About Wells Fargo & Company

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.