Narus Financial Partners LLC Increases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Narus Financial Partners LLC raised its holdings in Wells Fargo & Company (NYSE:WFC) by 19.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,773 shares of the financial services provider’s stock after buying an additional 773 shares during the quarter. Narus Financial Partners LLC’s holdings in Wells Fargo & Company were worth $335,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quad Cities Investment Group LLC lifted its position in Wells Fargo & Company by 0.3% during the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after acquiring an additional 158 shares during the period. Investors Research Corp raised its stake in shares of Wells Fargo & Company by 1.2% in the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 160 shares during the last quarter. Ellenbecker Investment Group lifted its holdings in shares of Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 164 shares during the period. Income Research & Management purchased a new stake in Wells Fargo & Company in the third quarter valued at approximately $211,000. Finally, Modera Wealth Management LLC increased its holdings in Wells Fargo & Company by 0.9% in the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.7 %

Shares of WFC opened at $78.89 on Friday. The stock has a 50 day moving average price of $73.45 and a 200 day moving average price of $64.48. Wells Fargo & Company has a one year low of $47.45 and a one year high of $79.24. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $262.67 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned $0.86 earnings per share. Equities research analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group upped their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Piper Sandler upped their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Compass Point lifted their price objective 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. The Goldman Sachs Group boosted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $73.39.

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.