CoreFirst Bank & Trust Purchases New Position in Wells Fargo & Company (NYSE:WFC)

CoreFirst Bank & Trust acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 4,925 shares of the financial services provider’s stock, valued at approximately $346,000.

Several other large investors have also recently bought and sold shares of WFC. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $26,000. Rakuten Securities Inc. grew its stake in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 237 shares during the period. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $30,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $32,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Truist Financial raised their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Compass Point boosted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Citigroup lowered their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday. UBS Group lifted their price target 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, Piper Sandler upped their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.18.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $74.28 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The business’s 50 day moving average price is $76.03 and its two-hundred day moving average price is $69.62. The company has a market cap of $244.25 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results 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 business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the firm earned $0.86 EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s 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.