SFE Investment Counsel Takes Position in Wells Fargo & Company (NYSE:WFC)

SFE Investment Counsel bought a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,399 shares of the financial services provider’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jacobsen Capital Management grew its position in shares of Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 148 shares during the period. New Republic Capital LLC boosted its holdings in shares of Wells Fargo & Company by 2.9% in the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock valued at $369,000 after buying an additional 149 shares during the period. Quad Cities Investment Group LLC increased its position in shares of Wells Fargo & Company by 0.3% during the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after acquiring an additional 158 shares in the last quarter. Investors Research Corp raised its holdings in shares of Wells Fargo & Company by 1.2% during the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after acquiring an additional 160 shares during the period. Finally, Ellenbecker Investment Group lifted its position in Wells Fargo & Company by 3.9% in the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 164 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Down 0.5 %

WFC opened at $79.22 on Thursday. The stock has a market capitalization of $263.76 billion, a price-to-earnings ratio of 14.72, a P/E/G ratio of 1.22 and a beta of 1.18. 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 twelve month low of $47.59 and a twelve month high of $81.50. The company has a 50-day simple moving average of $74.20 and a 200 day simple moving average of $65.87.

Wells Fargo & Company (NYSE:WFC) last issued 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 company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $0.86 EPS. Analysts predict 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 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 dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Analyst Ratings Changes

A number of brokerages have recently commented on WFC. 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 report on Thursday, January 16th. Piper Sandler lifted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group raised their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Citigroup upped their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, UBS Group raised their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Eleven 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, the stock has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company 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.