BlueStem Wealth Partners LLC Invests $595,000 in Wells Fargo & Company (NYSE:WFC)

BlueStem Wealth Partners LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 8,473 shares of the financial services provider’s stock, valued at approximately $595,000.

A number of other large investors also recently modified their holdings of WFC. Focus Financial Network Inc. raised its holdings in shares of Wells Fargo & Company by 1.3% in the 3rd quarter. Focus Financial Network Inc. now owns 59,812 shares of the financial services provider’s stock valued at $3,379,000 after purchasing an additional 757 shares during the period. Gladstone Institutional Advisory LLC raised its holdings in shares of Wells Fargo & Company by 259.6% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 34,403 shares of the financial services provider’s stock valued at $1,943,000 after purchasing an additional 24,835 shares during the period. Americana Partners LLC raised its holdings in shares of Wells Fargo & Company by 6.1% in the 3rd quarter. Americana Partners LLC now owns 8,790 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 503 shares during the period. Lowe Brockenbrough & Co. Inc. raised its holdings in shares of Wells Fargo & Company by 0.7% in the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 57,035 shares of the financial services provider’s stock valued at $3,222,000 after purchasing an additional 402 shares during the period. Finally, Creative Capital Management Investments LLC bought a new position in Wells Fargo & Company in the 3rd quarter valued at about $113,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $78.35 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $260.87 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 1.18 and a beta of 1.18. The firm’s 50 day simple moving average is $75.87 and its 200 day simple moving average is $67.86. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50.

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, topping 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 business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the business posted $0.86 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the topic of several research analyst reports. Piper Sandler increased their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Compass Point increased their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group increased their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target 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.