Wells Fargo & Company (NYSE:WFC) Shares Purchased by Larson Financial Group LLC

Larson Financial Group LLC lifted its stake in Wells Fargo & Company (NYSE:WFC) by 11.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,808 shares of the financial services provider’s stock after acquiring an additional 679 shares during the quarter. Larson Financial Group LLC’s holdings in Wells Fargo & Company were worth $478,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. increased its stake in Wells Fargo & Company by 111.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 34,464 shares of the financial services provider’s stock worth $1,947,000 after buying an additional 18,138 shares during the period. Covestor Ltd increased its stake in Wells Fargo & Company by 17.3% during the 3rd quarter. Covestor Ltd now owns 1,326 shares of the financial services provider’s stock worth $75,000 after buying an additional 196 shares during the period. Axxcess Wealth Management LLC increased its stake in Wells Fargo & Company by 22.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 80,033 shares of the financial services provider’s stock worth $4,521,000 after buying an additional 14,728 shares during the period. Mayflower Financial Advisors LLC increased its stake in Wells Fargo & Company by 3.6% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 5,316 shares of the financial services provider’s stock worth $300,000 after buying an additional 184 shares during the period. Finally, Baker Avenue Asset Management LP increased its stake in Wells Fargo & Company by 4.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 28,151 shares of the financial services provider’s stock worth $1,590,000 after buying an additional 1,194 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on WFC. UBS Group upped their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays increased their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Truist Financial increased their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Compass Point increased their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. 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 Stock Down 6.3 %

Shares of NYSE:WFC opened at $66.60 on Tuesday. The stock has a market cap of $218.98 billion, a P/E ratio of 12.38, a P/E/G ratio of 1.18 and a beta of 1.16. The firm has a fifty day moving average price of $76.02 and a 200 day moving average price of $68.67. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results 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. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 EPS. Sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.