Wells Fargo & Company (NYSE:WFC) Shares Acquired by Modern Wealth Management LLC

Modern Wealth Management LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 87.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,028 shares of the financial services provider’s stock after purchasing an additional 6,077 shares during the period. Modern Wealth Management LLC’s holdings in Wells Fargo & Company were worth $915,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of WFC. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $26,000. Truvestments Capital LLC acquired a new position in Wells Fargo & Company in the 3rd quarter valued at $29,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Finally, Rakuten Securities Inc. grew its position in shares of Wells Fargo & Company by 126.7% in the fourth 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 period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WFC has been the topic of several research analyst reports. The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Barclays boosted their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Truist Financial boosted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Citigroup cut their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average target price of $74.18.

Wells Fargo & Company Trading Down 1.1 %

Shares of WFC opened at $73.45 on Thursday. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The stock has a 50-day moving average price of $76.04 and a 200 day moving average price of $69.79. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $239.83 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business 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 quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.