Empowered Funds LLC Increases Holdings in Wells Fargo & Company (NYSE:WFC)

Empowered Funds LLC raised its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 19.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 190,330 shares of the financial services provider's stock after purchasing an additional 30,510 shares during the quarter. Empowered Funds LLC's holdings in Wells Fargo & Company were worth $13,369,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of WFC. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. bought a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $34,000. Finally, FSA Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $34,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WFC. Citigroup upped their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th. Truist Financial increased their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a report on Thursday, January 16th. The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a report on Friday, December 6th. Finally, Phillip Securities raised Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and increased their price objective for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company has an average rating of "Hold" and an average price target of $73.39.

Wells Fargo & Company Trading Down 2.3 %

Shares of NYSE WFC traded down $1.84 during trading hours on Monday, hitting $78.83. The company's stock had a trading volume of 8,308,403 shares, compared to its average volume of 14,943,897. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market cap of $262.46 billion, a price-to-earnings ratio of 14.64, a P/E/G ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $47.59 and a 12 month high of $81.50. The business has a 50-day simple moving average of $73.89 and a 200-day simple moving average of $65.51.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The business 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 was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 EPS. On average, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.03%. Wells Fargo & Company's payout ratio is 29.74%.

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.