4,299 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Scratch Capital LLC

Scratch Capital LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,299 shares of the financial services provider’s stock, valued at approximately $302,000. Wells Fargo & Company comprises approximately 0.4% of Scratch Capital LLC’s portfolio, making the stock its 26th largest holding.

Other large investors also recently bought and sold shares of the company. Pure Financial Advisors LLC raised its position in Wells Fargo & Company by 4.8% in the 3rd quarter. Pure Financial Advisors LLC now owns 17,635 shares of the financial services provider’s stock valued at $996,000 after purchasing an additional 815 shares during the last quarter. KG&L Capital Management LLC increased its stake in Wells Fargo & Company by 141.6% in the third quarter. KG&L Capital Management LLC now owns 27,334 shares of the financial services provider’s stock valued at $1,479,000 after purchasing an additional 16,019 shares during the period. Intact Investment Management Inc. raised its holdings in shares of Wells Fargo & Company by 8.8% in the third quarter. Intact Investment Management Inc. now owns 180,150 shares of the financial services provider’s stock valued at $10,177,000 after buying an additional 14,500 shares during the last quarter. Cohen Capital Management Inc. boosted its stake in shares of Wells Fargo & Company by 29.3% during the third quarter. Cohen Capital Management Inc. now owns 14,156 shares of the financial services provider’s stock worth $800,000 after buying an additional 3,210 shares during the period. Finally, National Pension Service boosted its stake in shares of Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after buying an additional 897,195 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the subject of several analyst reports. Truist Financial upped their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Barclays upped their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group upped their price objective 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. Finally, Compass Point lifted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Down 1.7 %

WFC stock opened at $76.96 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company’s 50 day simple moving average is $76.00 and its 200-day simple moving average is $68.11. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The firm has a market capitalization of $253.06 billion, a PE ratio of 14.30, a P/E/G ratio of 1.18 and a beta of 1.18.

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 the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the business posted $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. Wells Fargo & Company’s dividend payout ratio (DPR) is 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.