4,320 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Carbahal Olsen Financial Services Group LLC

Carbahal Olsen Financial Services Group LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,320 shares of the financial services provider’s stock, valued at approximately $303,000. Wells Fargo & Company comprises 0.3% of Carbahal Olsen Financial Services Group LLC’s portfolio, making the stock its 25th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of WFC. Claret Asset Management Corp acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $239,000. Coastline Trust Co lifted its stake in Wells Fargo & Company by 7.7% in the fourth quarter. Coastline Trust Co now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after buying an additional 476 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Wells Fargo & Company by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider’s stock worth $1,430,742,000 after acquiring an additional 238,131 shares in the last quarter. Epoch Investment Partners Inc. lifted its position in Wells Fargo & Company by 10.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 309,869 shares of the financial services provider’s stock valued at $21,765,000 after acquiring an additional 28,931 shares in the last quarter. Finally, Forum Financial Management LP increased its holdings in Wells Fargo & Company by 14.6% during the 4th quarter. Forum Financial Management LP now owns 55,896 shares of the financial services provider’s stock worth $3,926,000 after purchasing an additional 7,139 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on WFC. Citigroup cut their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Truist Financial lowered their price target on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. cut their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Thursday, March 13th. Finally, Raymond James lowered their target price on shares of Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating on the stock in a report on Monday, April 14th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.34.

Wells Fargo & Company Price Performance

Shares of WFC opened at $64.63 on Friday. 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 stock has a market cap of $211.02 billion, a PE ratio of 12.01, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The business has a 50-day simple moving average of $71.23 and a two-hundred day simple moving average of $71.05.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. The business had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the business earned $1.20 EPS. Analysts anticipate 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 disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 28.73%.

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.