Hanlon Investment Management Inc. Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Hanlon Investment Management Inc. purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,243 shares of the financial services provider’s stock, valued at approximately $228,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC raised its holdings in Wells Fargo & Company by 19.1% during the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock worth $13,369,000 after purchasing an additional 30,510 shares in the last quarter. Valmark Advisers Inc. raised its stake in shares of Wells Fargo & Company by 5.5% in the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock worth $583,000 after buying an additional 431 shares in the last quarter. NatWest Group plc lifted its holdings in shares of Wells Fargo & Company by 57.7% in the fourth quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock valued at $12,115,000 after buying an additional 63,102 shares during the period. Financiere des Professionnels Fonds d investissement inc. bought a new position in Wells Fargo & Company during the fourth quarter valued at about $1,656,000. Finally, Modera Wealth Management LLC grew its holdings in Wells Fargo & Company by 14.1% during the fourth quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider’s stock worth $1,444,000 after acquiring an additional 2,548 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WFC shares. Barclays cut their price target on shares of Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Monday. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, April 7th. Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Piper Sandler decreased their target price on Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Bank of America cut their target price on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.88.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $63.17 on Tuesday. 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 one year low of $50.15 and a one year high of $81.50. The business’s 50-day moving average price is $72.49 and its two-hundred day moving average price is $71.02. The company has a market capitalization of $206.26 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.16. The firm had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 earnings per share. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. Wells Fargo & Company’s dividend payout ratio is currently 28.73%.

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.