3,072 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by RKL Wealth Management LLC

RKL Wealth Management LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, Holdings Channel.com reports. The fund purchased 3,072 shares of the financial services provider’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company in the fourth quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $35,000. Finally, BankPlus Trust Department purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $35,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 2.3 %

NYSE:WFC opened at $71.01 on Friday. The firm has a market cap of $233.50 billion, a P/E ratio of 13.20, a PEG ratio of 1.18 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock’s 50 day simple moving average is $76.10 and its 200-day simple moving average is $68.50. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WFC shares. Piper Sandler raised their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Truist Financial lifted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Compass Point lifted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. UBS Group boosted 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. Finally, The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.