Capital Analysts LLC Has $280,000 Position in Wells Fargo & Company (NYSE:WFC)

Capital Analysts LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 23.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,999 shares of the financial services provider’s stock after purchasing an additional 759 shares during the period. Capital Analysts LLC’s holdings in Wells Fargo & Company were worth $280,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth $26,000. Investment Counsel Co. of Nevada acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $28,000. Rakuten Securities Inc. grew its stake 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 purchasing an additional 237 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.2 %

NYSE WFC opened at $69.72 on Monday. The stock’s 50-day simple moving average is $70.01 and its two-hundred day simple moving average is $71.62. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $227.65 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 1.18 and a beta of 1.02.

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

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 28.73%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Phillip Securities upgraded shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, April 14th. Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Truist Financial decreased their price target on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. dropped their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Finally, Piper Sandler cut their price target on Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $75.34.

Wells Fargo & 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.