Johnson Investment Counsel Inc. Increases Position in Wells Fargo & Company (NYSE:WFC)

Johnson Investment Counsel Inc. boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 11.2% in the 4th quarter, Holdings Channel reports. The fund owned 31,567 shares of the financial services provider’s stock after acquiring an additional 3,176 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Wells Fargo & Company were worth $2,217,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $26,000. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at about $29,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $30,000. Finally, Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of several research reports. Barclays upped 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 note on Thursday, January 16th. Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Piper Sandler increased their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Truist Financial increased their price target on shares of 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, Compass Point increased their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $67.33 on Wednesday. The firm has a market cap of $221.40 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. 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’s 50 day moving average is $75.96 and its two-hundred day moving average is $68.74.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 EPS. On average, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.38%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.