Gilbert & Cook Inc. Increases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Gilbert & Cook Inc. grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 65.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,389 shares of the financial services provider’s stock after purchasing an additional 10,025 shares during the period. Gilbert & Cook Inc.’s holdings in Wells Fargo & Company were worth $1,783,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WFC. Quarry LP purchased a new position in Wells Fargo & Company in the 2nd quarter valued at approximately $105,000. Advisory Alpha LLC raised its stake in shares of Wells Fargo & Company by 5.2% in the second quarter. Advisory Alpha LLC now owns 5,490 shares of the financial services provider’s stock valued at $326,000 after acquiring an additional 270 shares in the last quarter. RiverFront Investment Group LLC purchased a new position in Wells Fargo & Company in the second quarter valued at $6,927,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company during the 2nd quarter worth $26,000. Finally, Creekside Partners purchased a new stake in Wells Fargo & Company during the 2nd quarter worth about $566,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $78.84 on Thursday. The company’s 50 day simple moving average is $73.35 and its 200-day simple moving average is $64.38. The firm has a market cap of $262.50 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $79.02. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data 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 company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the firm posted $0.86 EPS. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, equities analysts predict that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Friday, February 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WFC. Barclays lifted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Citigroup lifted their price target 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. The Goldman Sachs Group raised their price objective 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. Finally, Truist Financial boosted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and an average target price 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.