Cannell & Spears LLC Purchases 472 Shares of Wells Fargo & Company (NYSE:WFC)

Cannell & Spears LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,272 shares of the financial services provider’s stock after acquiring an additional 472 shares during the quarter. Cannell & Spears LLC’s holdings in Wells Fargo & Company were worth $862,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at $26,000. Rakuten Securities Inc. lifted its position in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after buying an additional 237 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $30,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup decreased their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Truist Financial lifted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Thursday, March 13th. Finally, UBS Group lifted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.97.

Wells Fargo & Company Trading Up 1.6 %

Shares of WFC stock opened at $71.85 on Tuesday. The firm has a fifty day moving average of $75.73 and a 200-day moving average of $70.29. The stock has a market cap of $234.59 billion, a price-to-earnings ratio of 13.35, a P/E/G 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 debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

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, topping the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion during 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 company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 earnings per share. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. 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.