Tower Research Capital LLC TRC Purchases 183,728 Shares of Wells Fargo & Company (NYSE:WFC)

Tower Research Capital LLC TRC increased its position in Wells Fargo & Company (NYSE:WFC) by 209.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 271,392 shares of the financial services provider’s stock after buying an additional 183,728 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Wells Fargo & Company were worth $19,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Transce3nd LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth $625,000. Trajan Wealth LLC lifted its stake in shares of Wells Fargo & Company by 11.3% in the 4th quarter. Trajan Wealth LLC now owns 67,690 shares of the financial services provider’s stock valued at $4,755,000 after acquiring an additional 6,852 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Wells Fargo & Company by 7.3% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,718 shares of the financial services provider’s stock valued at $331,000 after acquiring an additional 319 shares during the period. MML Investors Services LLC grew its position in Wells Fargo & Company by 11.1% during the 4th quarter. MML Investors Services LLC now owns 448,224 shares of the financial services provider’s stock worth $31,483,000 after acquiring an additional 44,909 shares during the last quarter. Finally, Natixis increased its stake in Wells Fargo & Company by 14.6% in the 4th quarter. Natixis now owns 1,140,934 shares of the financial services provider’s stock worth $80,139,000 after purchasing an additional 145,678 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WFC. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Thursday, March 13th. Raymond James reduced their price objective on shares of Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating on the stock in a research report on Monday, April 14th. Piper Sandler lowered their target price on Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, April 14th. Finally, Bank of America lowered their price target on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.34.

Wells Fargo & Company Trading Up 1.0 %

NYSE:WFC opened at $64.63 on Friday. The company has a market cap of $211.02 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. 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 company has a 50 day simple moving average of $71.23 and a two-hundred day simple moving average of $71.16. 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 released its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.16. The business had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. Research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share 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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is 28.73%.

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.