Evernest Financial Advisors LLC Buys 1,397 Shares of Wells Fargo & Company (NYSE:WFC)

Evernest Financial Advisors LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 35.4% in the 4th quarter, Holdings Channel reports. The firm owned 5,341 shares of the financial services provider’s stock after buying an additional 1,397 shares during the period. Evernest Financial Advisors LLC’s holdings in Wells Fargo & Company were worth $375,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cardinal Capital Management Inc. boosted its stake in shares of Wells Fargo & Company by 2.0% in the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after buying an additional 11,037 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in Wells Fargo & Company by 37.2% in the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after purchasing an additional 173,083 shares during the last quarter. Atlantic Union Bankshares Corp grew its stake in shares of Wells Fargo & Company by 17.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after purchasing an additional 26,320 shares during the period. Chartwell Investment Partners LLC increased its position in shares of Wells Fargo & Company by 16.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after purchasing an additional 18,717 shares during the last quarter. Finally, Argus Investors Counsel Inc. lifted its stake in shares of Wells Fargo & Company by 34.6% in the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after purchasing an additional 8,107 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $78.89 on Friday. The business’s 50-day moving average is $73.45 and its 200 day moving average is $64.48. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $79.24. The company has a market capitalization of $262.67 billion, a P/E ratio of 14.66, a P/E/G ratio of 1.18 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the prior year, the firm earned $0.86 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities research analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm 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 $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of 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. Truist Financial boosted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Morgan Stanley lifted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Citigroup increased their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently 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.