Wells Fargo & Company (NYSE:WFC) Shares Purchased by Private Advisor Group LLC

Private Advisor Group LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 211,575 shares of the financial services provider’s stock after buying an additional 2,016 shares during the quarter. Private Advisor Group LLC’s holdings in Wells Fargo & Company were worth $14,861,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC grew its stake in Wells Fargo & Company by 5.8% during the 3rd quarter. Foundations Investment Advisors LLC now owns 21,483 shares of the financial services provider’s stock worth $1,214,000 after purchasing an additional 1,179 shares in the last quarter. Eastern Bank purchased a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $790,000. Community Trust & Investment Co. grew its holdings in Wells Fargo & Company by 35.3% during the 3rd quarter. Community Trust & Investment Co. now owns 6,248 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 1,629 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Wells Fargo & Company by 2.8% during the third quarter. Bank Pictet & Cie Europe AG now owns 943,615 shares of the financial services provider’s stock worth $53,305,000 after purchasing an additional 25,881 shares in the last quarter. Finally, Meadow Creek Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $202,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WFC. Truist Financial upped their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Citigroup raised their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Evercore ISI upped their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley lifted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Down 0.5 %

Shares of NYSE:WFC opened at $80.38 on Thursday. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week 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 firm’s 50-day simple moving average is $74.90 and its 200-day simple moving average is $66.64. The company has a market cap of $267.63 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.20 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The company 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 firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS. As a group, equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

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.