Wells Fargo & Company (NYSE:WFC) Shares Bought by MONECO Advisors LLC

MONECO Advisors LLC lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,018 shares of the financial services provider’s stock after acquiring an additional 134 shares during the period. MONECO Advisors LLC’s holdings in Wells Fargo & Company were worth $493,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Howard Capital Management Inc. increased its position in shares of Wells Fargo & Company by 4.7% in the fourth quarter. Howard Capital Management Inc. now owns 25,885 shares of the financial services provider’s stock worth $1,818,000 after acquiring an additional 1,154 shares in the last quarter. Wealthspire Advisors LLC increased its position in shares of Wells Fargo & Company by 11.9% in the fourth quarter. Wealthspire Advisors LLC now owns 23,611 shares of the financial services provider’s stock worth $1,658,000 after acquiring an additional 2,507 shares in the last quarter. Tradewinds Capital Management LLC increased its position in shares of Wells Fargo & Company by 82.4% in the fourth quarter. Tradewinds Capital Management LLC now owns 7,732 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 3,494 shares in the last quarter. Callan Capital LLC increased its position in shares of Wells Fargo & Company by 6.2% in the fourth quarter. Callan Capital LLC now owns 6,397 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 373 shares in the last quarter. Finally, Winebrenner Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $1,585,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.5 %

Wells Fargo & Company stock opened at $77.10 on Tuesday. The firm’s 50-day moving average is $75.30 and its 200-day moving average is $67.28. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a market cap of $256.72 billion, a P/E ratio of 14.33, a PEG ratio of 1.18 and a beta of 1.18.

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 analysts’ consensus estimates 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. The company’s revenue for the quarter was down .5% on a year-over-year basis. On average, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. Wells Fargo & Company’s payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. 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. Compass Point raised 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. Barclays raised their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Evercore ISI raised their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Truist Financial raised their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average target price 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.