McAdam LLC Raises Stock Holdings in Wells Fargo & Company (NYSE:WFC)

McAdam LLC lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,223 shares of the financial services provider’s stock after purchasing an additional 596 shares during the quarter. McAdam LLC’s holdings in Wells Fargo & Company were worth $437,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Income Research & Management bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $211,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the fourth quarter worth about $30,000. Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the fourth quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $35,000. Finally, Truvestments Capital LLC purchased a new stake in Wells Fargo & Company during the third quarter valued at approximately $29,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WFC. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Tuesday, October 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Piper Sandler lifted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. UBS Group upped their price target 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. Finally, Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Performance

WFC stock opened at $78.81 on Monday. Wells Fargo & Company has a one year low of $47.45 and a one year high of $79.29. The firm has a market cap of $262.40 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.19 and a beta of 1.18. 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 firm has a 50-day simple moving average of $73.59 and a two-hundred day simple moving average of $64.75.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the firm earned $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. On average, equities analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors 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 yield of 2.03%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

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.