Kathmere Capital Management LLC Has $1.06 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Kathmere Capital Management LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 46.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,069 shares of the financial services provider’s stock after purchasing an additional 4,802 shares during the period. Kathmere Capital Management LLC’s holdings in Wells Fargo & Company were worth $1,058,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Income Research & Management acquired a new position in Wells Fargo & Company in the 3rd quarter valued at $211,000. Mattson Financial Services LLC bought a new position in Wells Fargo & Company in the second quarter valued at approximately $25,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company during the second quarter worth $26,000. Finally, Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the third quarter worth $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WFC shares. Morgan Stanley lowered their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Piper Sandler lifted 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. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Citigroup boosted 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 note on Tuesday, November 19th. Finally, UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.92.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $71.07 on Wednesday. The business has a 50-day simple moving average of $72.41 and a 200 day simple moving average of $63.15. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $236.63 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.08. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. On average, research analysts anticipate that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is presently 33.26%.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.