Financial Life Planners Invests $87,000 in Wells Fargo & Company (NYSE:WFC)

Financial Life Planners acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,233 shares of the financial services provider’s stock, valued at approximately $87,000.

Several other hedge funds also recently bought and sold shares of WFC. Truvestments Capital LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth about $30,000. Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company in the 4th quarter worth about $32,000. MidAtlantic Capital Management Inc. purchased a new stake 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 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.0 %

NYSE:WFC opened at $78.81 on Monday. The firm has a market capitalization of $262.40 billion, a P/E ratio of 14.65, a P/E/G ratio of 1.19 and a beta of 1.18. 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 fifty day moving average of $73.59 and a 200 day moving average of $64.78. Wells Fargo & Company has a 52 week low of $47.45 and a 52 week high of $79.29.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 earnings per share. On average, research analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial increased their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price target for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.