Quad Cities Investment Group LLC Purchases 158 Shares of Wells Fargo & Company (NYSE:WFC)

Quad Cities Investment Group LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 0.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 52,576 shares of the financial services provider’s stock after purchasing an additional 158 shares during the period. Wells Fargo & Company comprises 1.8% of Quad Cities Investment Group LLC’s investment portfolio, making the stock its 15th biggest position. Quad Cities Investment Group LLC’s holdings in Wells Fargo & Company were worth $3,693,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ignite Planners LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $255,000. Hummer Financial Advisory Services Inc bought a new position in Wells Fargo & Company during the fourth quarter valued at about $220,000. MRA Advisory Group purchased a new stake in Wells Fargo & Company during the fourth quarter worth about $219,000. Johnson & White Wealth Management LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth about $312,000. Finally, Traveka Wealth LLC lifted its stake in Wells Fargo & Company by 23.1% in the fourth quarter. Traveka Wealth LLC now owns 4,895 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 920 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.9 %

Shares of WFC stock opened at $70.59 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13. The stock has a 50 day moving average of $72.27 and a 200 day moving average of $63.07. The stock has a market cap of $235.03 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period in the prior year, the company posted $1.39 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were given a dividend of $0.40 per share. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.27%. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Insider Buying and Selling at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. This represents a 26.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Truist Financial initiated coverage on Wells Fargo & Company in a research note on Tuesday, January 7th. They issued a “buy” rating and a $82.00 price objective on the stock. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Evercore ISI raised their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Barclays raised their target price on shares of Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and an average target price of $69.92.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.