Kestra Private Wealth Services LLC boosted its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 25.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 98,699 shares of the financial services provider's stock after buying an additional 19,757 shares during the period. Kestra Private Wealth Services LLC's holdings in Wells Fargo & Company were worth $6,933,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of WFC. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth about $30,000. Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $32,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $34,000. Finally, FSA Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter worth about $34,000. Institutional investors and hedge funds own 75.90% of the company's stock.
Wells Fargo & Company Price Performance
Shares of Wells Fargo & Company stock traded down $1.62 on Monday, hitting $79.05. 18,355,182 shares of the company were exchanged, compared to its average volume of 15,345,478. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a 50-day moving average price of $73.89 and a 200 day moving average price of $65.51. The stock has a market capitalization of $263.21 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $47.59 and a 1-year high of $81.50.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping 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 in the previous year, the company posted $0.86 earnings per share. The firm's revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.
Wells Fargo & Company Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.74%.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Barclays boosted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a report on Thursday, January 16th. Piper Sandler increased 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. Finally, Morgan Stanley lifted their price target on 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 analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $73.39.
Get Our Latest Report on WFC
About Wells Fargo & Company
(
Free Report)
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.
Featured Stories
Before you consider Wells Fargo & Company, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wells Fargo & Company wasn't on the list.
While Wells Fargo & Company currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
