Wells Fargo & Company (NYSE:WFC) Shares Purchased by Vest Financial LLC

Vest Financial LLC grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 6.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,709 shares of the financial services provider’s stock after buying an additional 916 shares during the quarter. Vest Financial LLC’s holdings in Wells Fargo & Company were worth $1,103,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Sprinkle Financial Consultants LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $244,000. Joel Isaacson & Co. LLC raised its position in Wells Fargo & Company by 0.7% in the fourth quarter. Joel Isaacson & Co. LLC now owns 45,477 shares of the financial services provider’s stock worth $3,194,000 after acquiring an additional 321 shares in the last quarter. Northstar Group Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $244,000. NatWest Group plc boosted its position in shares of Wells Fargo & Company by 57.7% during the 4th quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock valued at $12,115,000 after purchasing an additional 63,102 shares in the last quarter. Finally, Exane Asset Management acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $97,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on WFC shares. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays upped 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. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Truist Financial boosted 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 note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Down 0.8 %

Wells Fargo & Company stock opened at $80.76 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 1-year low of $47.47 and a 1-year high of $81.50. The firm’s fifty day simple moving average is $73.89 and its 200-day simple moving average is $65.47. The company has a market capitalization of $268.89 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced 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 company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm earned $0.86 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

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.