Veridan Wealth LLC Makes New $9.63 Million Investment in Wells Fargo & Company (NYSE:WFC)

Veridan Wealth LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 137,104 shares of the financial services provider’s stock, valued at approximately $9,630,000. Wells Fargo & Company comprises 4.5% of Veridan Wealth LLC’s holdings, making the stock its 2nd largest holding.

Several other hedge funds have also recently modified their holdings of the stock. Empowered Funds LLC boosted its stake in Wells Fargo & Company by 19.1% during the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock valued at $13,369,000 after buying an additional 30,510 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Wells Fargo & Company by 37.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after acquiring an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp boosted its position 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 acquiring an additional 26,320 shares during the last quarter. Chartwell Investment Partners LLC grew its holdings in shares of Wells Fargo & Company by 16.4% in the third 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 in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Wells Fargo & Company by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider’s stock worth $58,055,000 after purchasing an additional 131,322 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on WFC shares. Keefe, Bruyette & Woods increased 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 report on Thursday, January 16th. Truist Financial increased their price target 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. Piper Sandler boosted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley raised their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Compass Point lifted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Up 0.2 %

WFC stock opened at $76.61 on Friday. The stock has a market capitalization of $255.06 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $50.15 and a 52 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 has a 50 day moving average of $75.71 and a 200 day moving average of $67.57.

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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the company earned $0.86 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.09%. Wells Fargo & Company’s payout ratio is presently 29.74%.

Wells Fargo & Company 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.