Transce3nd LLC Buys Shares of 8,874 Wells Fargo & Company (NYSE:WFC)

Transce3nd LLC bought a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,874 shares of the financial services provider's stock, valued at approximately $625,000.

Several other hedge funds have also made changes to their positions in the stock. Rialto Wealth Management LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $26,000. Investment Counsel Co. of Nevada bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $28,000. Rakuten Securities Inc. lifted its holdings in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after purchasing an additional 237 shares during the period. Modus Advisors LLC acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $30,000. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 2.3 %

Shares of WFC traded up $1.56 on Thursday, reaching $69.50. 9,113,595 shares of the company's stock were exchanged, compared to its average volume of 17,465,607. The business has a 50 day moving average price of $70.44 and a two-hundred day moving average price of $71.26. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $226.91 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

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

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.30%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's payout ratio is 28.73%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research analyst reports. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Keefe, Bruyette & Woods boosted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Truist Financial dropped their price target on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, April 7th. Finally, Barclays dropped their target price on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $75.34.

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.