Finer Wealth Management Inc. Purchases Shares of 3,382 Wells Fargo & Company (NYSE:WFC)

Finer Wealth Management Inc. purchased a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,382 shares of the financial services provider’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Morse Asset Management Inc bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth approximately $487,000. Tudor Financial Inc. bought a new position in Wells Fargo & Company in the third quarter worth $468,000. Anchor Investment Management LLC lifted its position in Wells Fargo & Company by 5.5% in the third quarter. Anchor Investment Management LLC now owns 15,903 shares of the financial services provider’s stock worth $898,000 after purchasing an additional 836 shares during the period. World Investment Advisors LLC boosted its stake in Wells Fargo & Company by 1,263.8% during the third quarter. World Investment Advisors LLC now owns 75,432 shares of the financial services provider’s stock worth $4,261,000 after buying an additional 69,901 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in shares of Wells Fargo & Company by 4.5% during the 3rd quarter. Tidal Investments LLC now owns 138,813 shares of the financial services provider’s stock worth $7,842,000 after acquiring an additional 5,946 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $64.58 on Wednesday. The stock has a market cap of $210.87 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The stock has a 50-day moving average of $72.15 and a 200-day moving average of $70.97. 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.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same period last year, the business posted $1.20 earnings per share. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.48%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.73%.

Analyst Upgrades and Downgrades

WFC has been the subject of several recent research reports. Citigroup dropped their price target on shares of 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. Keefe, Bruyette & Woods boosted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Morgan Stanley raised their target price on Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, April 7th. Truist Financial cut their price target on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a report on Monday. Finally, Raymond James decreased their price objective on shares of Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating on the stock in a report on Monday. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.34.

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.