Stokes Family Office LLC Takes Position in Wells Fargo & Company (NYSE:WFC)

Stokes Family Office LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, HoldingsChannel reports. The firm bought 13,467 shares of the financial services provider’s stock, valued at approximately $946,000.

Other institutional investors have also modified their holdings of the company. Spinnaker Trust grew its position in shares of Wells Fargo & Company by 1.8% during the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock valued at $520,000 after buying an additional 130 shares during the last quarter. MONECO Advisors LLC grew its position in shares of Wells Fargo & Company by 1.9% during the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock valued at $493,000 after buying an additional 134 shares during the last quarter. Crown Wealth Group LLC grew its position in shares of Wells Fargo & Company by 2.2% during the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after buying an additional 140 shares during the last quarter. Jacobsen Capital Management grew its position in shares of Wells Fargo & Company by 2.8% during the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after buying an additional 148 shares during the last quarter. Finally, New Republic Capital LLC grew its position in shares of Wells Fargo & Company by 2.9% during the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock valued at $369,000 after buying an additional 149 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.3 %

WFC stock opened at $71.08 on Wednesday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The firm has a market cap of $233.72 billion, a PE ratio of 13.21, a P/E/G ratio of 1.18 and a beta of 1.16. The firm has a 50 day simple moving average of $75.86 and a 200 day simple moving average of $69.19. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

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, beating 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 during the quarter, compared to analyst estimates of $20.58 billion. During the same period in the prior year, the business earned $0.86 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors 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 annualized dividend and a dividend yield of 2.25%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Compass Point boosted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. UBS Group upped their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Citigroup upped their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Piper Sandler upped their target price 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. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $74.39.

About Wells Fargo & Company

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.