Argyle Capital Management LLC Has $3.01 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Argyle Capital Management LLC lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,796 shares of the financial services provider’s stock after purchasing an additional 703 shares during the period. Argyle Capital Management LLC’s holdings in Wells Fargo & Company were worth $3,006,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Truvestments Capital LLC bought a new position in Wells Fargo & Company during the third quarter worth $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $32,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company during the third quarter worth about $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC opened at $76.61 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market capitalization of $255.06 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The company’s 50 day simple moving average is $75.71 and its 200-day simple moving average is $67.57. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.86 EPS. Sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. Wells Fargo & Company’s payout ratio is presently 29.74%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. UBS Group raised their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Barclays lifted their price target 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. Truist Financial raised their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Compass Point upped their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler raised their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.39.

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.