Potentia Wealth Takes $1.55 Million Position in Wells Fargo & Company (NYSE:WFC)

Potentia Wealth purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 22,112 shares of the financial services provider’s stock, valued at approximately $1,553,000. Wells Fargo & Company makes up approximately 0.7% of Potentia Wealth’s holdings, making the stock its 27th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $26,000. Truvestments Capital LLC acquired a new stake in Wells Fargo & Company in the third quarter worth about $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $30,000. Finally, Rakuten Securities Inc. boosted its stake in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on WFC shares. Barclays increased their price target 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. UBS Group raised 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. Compass Point upped their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Thursday, March 13th. Finally, Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and an average target price of $74.18.

Wells Fargo & Company Price Performance

Shares of WFC opened at $74.28 on Tuesday. The company’s 50-day moving average is $76.03 and its 200-day moving average is $69.62. 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 firm has a market capitalization of $244.25 billion, a PE ratio of 13.81, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50.

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. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. Equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

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.