Transce3nd LLC Purchases New Position in Wells Fargo & Company (NYSE:WFC)

Transce3nd LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 8,874 shares of the financial services provider’s stock, valued at approximately $625,000.

A number of other institutional investors and hedge funds have also bought and sold shares of WFC. Morse Asset Management Inc purchased a new stake in Wells Fargo & Company in the third quarter worth about $487,000. Tudor Financial Inc. bought a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at about $468,000. Anchor Investment Management LLC raised its holdings in shares of Wells Fargo & Company by 5.5% in the 3rd quarter. Anchor Investment Management LLC now owns 15,903 shares of the financial services provider’s stock valued at $898,000 after purchasing an additional 836 shares in the last quarter. World Investment Advisors LLC boosted its stake in shares of Wells Fargo & Company by 1,263.8% during the third quarter. World Investment Advisors LLC now owns 75,432 shares of the financial services provider’s stock valued at $4,261,000 after purchasing an additional 69,901 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in Wells Fargo & Company by 4.5% during the third quarter. Tidal Investments LLC now owns 138,813 shares of the financial services provider’s stock valued at $7,842,000 after buying an additional 5,946 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $64.63 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The business has a fifty day moving average of $71.23 and a 200 day moving average of $71.16. The firm has a market capitalization of $211.02 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.16. The company had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. As a group, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.48%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 28.73%.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of analyst reports. 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 report on Monday, April 14th. Morgan Stanley upped their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, April 7th. Truist Financial cut their target price on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. decreased their price target on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Six 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.34.

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.