Optivise Advisory Services LLC Invests $215,000 in Wells Fargo & Company (NYSE:WFC)

Optivise Advisory Services LLC bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,059 shares of the financial services provider’s stock, valued at approximately $215,000.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $3,365,658,000. Capital Research Global Investors lifted its stake in shares of Wells Fargo & Company by 932.0% during the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider’s stock valued at $1,105,218,000 after buying an additional 14,210,193 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in Wells Fargo & Company in the 4th quarter worth $117,026,000. KLP Kapitalforvaltning AS purchased a new stake in Wells Fargo & Company in the 4th quarter worth $85,031,000. Finally, Korea Investment CORP raised its holdings in Wells Fargo & Company by 53.9% during the fourth quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider’s stock valued at $230,865,000 after acquiring an additional 1,150,443 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Thursday, March 13th. Truist Financial cut their price objective on shares of Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 14th. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, April 7th. 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. Finally, Raymond James reduced their price target 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 investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.34.

Wells Fargo & Company Trading Up 1.0 %

WFC stock opened at $64.63 on Monday. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The stock 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. 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 firm’s fifty day simple moving average is $71.23 and its two-hundred day simple moving average is $71.27.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.16. The company had revenue of $20.15 billion for 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 revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 EPS. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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