Twin Capital Management Inc. Buys 1,072 Shares of Wells Fargo & Company (NYSE:WFC)

Twin Capital Management Inc. raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,724 shares of the financial services provider’s stock after acquiring an additional 1,072 shares during the quarter. Wells Fargo & Company makes up 0.6% of Twin Capital Management Inc.’s portfolio, making the stock its 29th largest holding. Twin Capital Management Inc.’s holdings in Wells Fargo & Company were worth $5,670,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $26,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $30,000. Rakuten Securities Inc. increased its holdings in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. Finally, Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company in the 4th quarter valued at $32,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $60.91 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 stock’s 50 day moving average is $74.93 and its 200-day moving average is $70.67. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a market capitalization of $198.89 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.18 and a beta of 1.02.

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

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders 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 2.63%. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Truist Financial lowered their target price on Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating for the company in a research note on Friday. Citigroup dropped their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. UBS Group increased their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Thursday, March 13th. Finally, Compass Point lifted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.50.

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.