Moloney Securities Asset Management LLC Invests $311,000 in Wells Fargo & Company (NYSE:WFC)

Moloney Securities Asset Management LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,423 shares of the financial services provider’s stock, valued at approximately $311,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Income Research & Management acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $211,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Wells Fargo & Company during the fourth quarter worth approximately $35,000. Finally, Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 2.0 %

Shares of Wells Fargo & Company stock opened at $79.05 on Tuesday. The business has a 50-day moving average price of $73.89 and a 200 day moving average price of $65.51. Wells Fargo & Company has a fifty-two week low of $47.59 and a fifty-two week high of $81.50. The firm has a market cap of $263.21 billion, a P/E ratio of 14.69, a P/E/G ratio of 1.22 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WFC. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Evercore ISI upped their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial raised their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Citigroup upped their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.