Dana Investment Advisors Inc. Buys 9,259 Shares of Wells Fargo & Company (NYSE:WFC)

Dana Investment Advisors Inc. lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 367,844 shares of the financial services provider’s stock after purchasing an additional 9,259 shares during the quarter. Wells Fargo & Company accounts for about 0.9% of Dana Investment Advisors Inc.’s portfolio, making the stock its 19th largest position. Dana Investment Advisors Inc.’s holdings in Wells Fargo & Company were worth $25,837,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in WFC. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at approximately $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at approximately $32,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at approximately $34,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Up 1.2 %

Wells Fargo & Company stock opened at $74.20 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 12-month low of $50.15 and a 12-month high of $81.50. The firm’s fifty day moving average is $76.08 and its 200 day moving average is $68.28. The company has a market capitalization of $243.97 billion, a PE ratio of 13.79, a PEG ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The business’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.16%. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Truist Financial boosted their target price 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. Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Compass Point boosted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average 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.