Avantax Planning Partners Inc. Has $826,000 Position in Wells Fargo & Company (NYSE:WFC)

Avantax Planning Partners Inc. raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 11.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,765 shares of the financial services provider’s stock after buying an additional 1,204 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Wells Fargo & Company were worth $826,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Spinnaker Trust boosted its holdings in Wells Fargo & Company by 1.8% in the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock valued at $520,000 after acquiring an additional 130 shares during the last quarter. MONECO Advisors LLC boosted its stake in shares of Wells Fargo & Company by 1.9% in the 4th quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 134 shares during the last quarter. Crown Wealth Group LLC boosted its stake in shares of Wells Fargo & Company by 2.2% in the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 140 shares during the last quarter. Jacobsen Capital Management increased its position in shares of Wells Fargo & Company by 2.8% during the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock worth $381,000 after buying an additional 148 shares during the period. Finally, New Republic Capital LLC raised its stake in Wells Fargo & Company by 2.9% during the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock worth $369,000 after buying an additional 149 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on WFC shares. Truist Financial increased their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley boosted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods boosted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. UBS Group boosted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Compass Point boosted their price objective 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. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Up 0.8 %

WFC opened at $67.33 on Wednesday. The stock has a market cap of $221.40 billion, a PE ratio of 12.52, a P/E/G ratio of 1.18 and a beta of 1.16. 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 52 week low of $50.15 and a 52 week high of $81.50. The business’s fifty day simple moving average is $75.96 and its 200 day simple moving average is $68.74.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for 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 firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid 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 2.38%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

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.