First Dallas Securities Inc. Acquires 8,825 Shares of Wells Fargo & Company (NYSE:WFC)

First Dallas Securities Inc. grew its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 116.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,375 shares of the financial services provider's stock after purchasing an additional 8,825 shares during the quarter. First Dallas Securities Inc.'s holdings in Wells Fargo & Company were worth $1,150,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company in the third quarter valued at about $29,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $30,000. Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $32,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $34,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $34,000. Institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WFC shares. Piper Sandler raised their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. Phillip Securities upgraded Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and upped their price objective for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, Morgan Stanley raised their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Hold" and a consensus target price of $73.39.

Wells Fargo & Company Stock Up 0.7 %

Shares of WFC traded up $0.60 on Wednesday, reaching $80.07. The company's stock had a trading volume of 17,929,853 shares, compared to its average volume of 15,029,855. Wells Fargo & Company has a twelve month low of $47.45 and a twelve month high of $80.35. The stock has a market capitalization of $266.58 billion, a PE ratio of 14.88, a PEG 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. The firm has a fifty day moving average of $73.66 and a 200-day moving average of $65.06.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the company earned $0.86 earnings per share. The company's revenue for the quarter was down .5% on a year-over-year basis. Equities analysts predict that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

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