Waycross Partners LLC Purchases 12,128 Shares of Wells Fargo & Company (NYSE:WFC)

Waycross Partners LLC lifted its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 327,618 shares of the financial services provider's stock after buying an additional 12,128 shares during the quarter. Wells Fargo & Company comprises 3.0% of Waycross Partners LLC's investment portfolio, making the stock its 10th largest holding. Waycross Partners LLC's holdings in Wells Fargo & Company were worth $23,012,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Income Research & Management acquired a new stake in Wells Fargo & Company in the 3rd quarter worth approximately $211,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter worth approximately $30,000. Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Wells Fargo & Company in the 4th quarter worth approximately $35,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of WFC stock traded up $0.16 during trading hours on Friday, hitting $78.79. 6,176,877 shares of the company's stock were exchanged, compared to its average volume of 14,895,963. The stock's 50-day moving average is $75.06 and its 200-day moving average is $66.73. 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 stock has a market cap of $262.34 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business's revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm 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 is Friday, February 7th. Wells Fargo & Company's payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

WFC has been the subject of several analyst reports. Citigroup boosted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. Truist Financial upped their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. UBS Group upped their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Keefe, Bruyette & Woods upped their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. Finally, Evercore ISI upped their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $73.39.

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.