GWN Securities Inc. Takes Position in Wells Fargo & Company (NYSE:WFC)

GWN Securities Inc. acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,067 shares of the financial services provider’s stock, valued at approximately $390,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Northern Capital Management Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $217,000. Gallacher Capital Management LLC lifted its stake in shares of Wells Fargo & Company by 10.9% in the 4th quarter. Gallacher Capital Management LLC now owns 9,192 shares of the financial services provider’s stock valued at $646,000 after purchasing an additional 902 shares in the last quarter. Patten & Patten Inc. TN lifted its stake in shares of Wells Fargo & Company by 3.6% in the 4th quarter. Patten & Patten Inc. TN now owns 7,451 shares of the financial services provider’s stock valued at $523,000 after purchasing an additional 262 shares in the last quarter. Sovereign Investment Advisors LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $926,000. Finally, United Wealth Management LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $337,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

WFC stock opened at $70.96 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm has a market cap of $233.31 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The stock’s 50 day simple moving average is $75.89 and its 200 day simple moving average is $69.01.

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

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Analysts Set New Price Targets

Several equities analysts recently commented on WFC shares. Compass Point boosted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Citigroup boosted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Barclays boosted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Truist Financial boosted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average price target of $74.39.

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.