Leelyn Smith LLC Makes New $214,000 Investment in Wells Fargo & Company (NYSE:WFC)

Leelyn Smith LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,050 shares of the financial services provider’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Spinnaker Trust increased its stake in shares of Wells Fargo & Company by 1.8% during 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 period. MONECO Advisors LLC increased its position in shares of Wells Fargo & Company by 1.9% during 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 period. Crown Wealth Group LLC raised 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 worth $467,000 after buying an additional 140 shares in the last quarter. Jacobsen Capital Management lifted its holdings in shares of Wells Fargo & Company by 2.8% in the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after buying an additional 148 shares during the period. Finally, New Republic Capital LLC boosted 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 valued at $369,000 after buying an additional 149 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Truist Financial upped their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Keefe, Bruyette & Woods lifted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $74.39.

Wells Fargo & Company Stock Up 0.0 %

WFC stock opened at $70.88 on Tuesday. The company has a 50 day moving average of $75.87 and a two-hundred day moving average of $69.11. The company has a market cap of $233.07 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. 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 (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) 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 business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period last year, the company earned $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate 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 declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. Wells Fargo & Company’s dividend payout ratio 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.