Wells Fargo & Company (NYSE:WFC) Shares Bought by Equitable Trust Co.

Equitable Trust Co. raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 21.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,924 shares of the financial services provider’s stock after buying an additional 4,242 shares during the quarter. Equitable Trust Co.’s holdings in Wells Fargo & Company were worth $1,680,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of Wells Fargo & Company by 19.1% in the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock valued at $13,369,000 after purchasing an additional 30,510 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of Wells Fargo & Company by 37.2% in the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock valued at $36,055,000 after purchasing an additional 173,083 shares during the period. Atlantic Union Bankshares Corp lifted its position in Wells Fargo & Company by 17.4% in the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after buying an additional 26,320 shares during the last quarter. Chartwell Investment Partners LLC lifted its position in Wells Fargo & Company by 16.4% in the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after buying an additional 18,717 shares during the last quarter. Finally, Argus Investors Counsel Inc. lifted its position in Wells Fargo & Company by 34.6% in the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock valued at $1,780,000 after buying an additional 8,107 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $79.05 on Tuesday. 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 firm has a market cap of $263.21 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. The company’s 50 day simple moving average is $73.89 and its 200-day simple moving average is $65.51. Wells Fargo & Company has a 12-month low of $47.59 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. 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 2.02%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WFC shares. Piper Sandler upped their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their price target 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. Truist Financial increased their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Compass Point raised their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company 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.