Wells Fargo & Company (NYSE:WFC) Shares Acquired by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC lifted its stake in Wells Fargo & Company (NYSE:WFC) by 33.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,692 shares of the financial services provider’s stock after purchasing an additional 2,177 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $610,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Syverson Strege & Co purchased a new position in Wells Fargo & Company during the fourth quarter worth about $207,000. First American Trust FSB acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $10,192,000. TIAA Trust National Association raised its position in shares of Wells Fargo & Company by 254.6% during the 4th quarter. TIAA Trust National Association now owns 312,750 shares of the financial services provider’s stock valued at $21,968,000 after buying an additional 224,554 shares during the period. Houlihan Financial Resource Group Ltd. acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $211,000. Finally, Ashton Thomas Securities LLC grew its position in Wells Fargo & Company by 18.0% in the fourth quarter. Ashton Thomas Securities LLC now owns 3,678 shares of the financial services provider’s stock worth $258,000 after acquiring an additional 562 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WFC shares. Morgan Stanley lifted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Truist Financial upped their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group increased 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 note on Friday, December 6th. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods upped their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

Wells Fargo & Company Stock Down 1.1 %

Shares of Wells Fargo & Company stock opened at $73.45 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. 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. The company has a 50 day moving average of $76.04 and a 200 day moving average of $69.79.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate 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%. Wells Fargo & Company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 earnings per share. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.18%. 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.