Checchi Capital Advisers LLC Boosts Stake in Wells Fargo & Company (NYSE:WFC)

Checchi Capital Advisers LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 54,313 shares of the financial services provider’s stock after purchasing an additional 1,126 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Wells Fargo & Company were worth $3,815,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WFC. Bryn Mawr Capital Management LLC grew its stake in shares of Wells Fargo & Company by 8.4% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 3,854 shares of the financial services provider’s stock worth $271,000 after buying an additional 299 shares in the last quarter. Sabal Trust CO lifted its holdings in shares of Wells Fargo & Company by 88.1% in the 4th quarter. Sabal Trust CO now owns 20,528 shares of the financial services provider’s stock valued at $1,442,000 after acquiring an additional 9,616 shares during the last quarter. Nelson Capital Management LLC increased its stake in Wells Fargo & Company by 1,692.5% during the fourth quarter. Nelson Capital Management LLC now owns 2,868 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 2,708 shares during the last quarter. DMKC Advisory Services LLC purchased a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $3,981,000. Finally, Advisor OS LLC boosted its holdings in shares of Wells Fargo & Company by 63.8% in the 4th quarter. Advisor OS LLC now owns 7,628 shares of the financial services provider’s stock worth $536,000 after purchasing an additional 2,972 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.6 %

Wells Fargo & Company stock opened at $75.95 on Wednesday. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The stock has a market cap of $252.87 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a 50-day moving average of $75.40 and a two-hundred day moving average of $67.44.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

Several research analysts have commented on WFC shares. Barclays lifted their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Piper Sandler increased their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Evercore ISI boosted 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. Truist Financial raised their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.39.

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.