Caprock Group LLC Acquires 10,551 Shares of Wells Fargo & Company (NYSE:WFC)

Caprock Group LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 12.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,222 shares of the financial services provider’s stock after buying an additional 10,551 shares during the quarter. Caprock Group LLC’s holdings in Wells Fargo & Company were worth $6,618,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company in the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company during the second quarter worth $26,000. Truvestments Capital LLC acquired a new stake in Wells Fargo & Company in the third quarter valued at $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $32,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the subject of several recent analyst reports. Barclays raised their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Piper Sandler lifted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Citigroup increased their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Truist Financial raised their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Trading Down 0.0 %

Shares of WFC stock opened at $78.81 on Friday. The stock has a market cap of $262.40 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $79.29. 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 stock has a 50 day simple moving average of $73.53 and a 200 day simple moving average of $64.58.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 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 .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. On average, research analysts predict that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. Wells Fargo & Company’s payout ratio is 29.74%.

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.