Avestar Capital LLC Raises Stock Position in Wells Fargo & Company (NYSE:WFC)

Avestar Capital LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,854 shares of the financial services provider’s stock after buying an additional 1,803 shares during the quarter. Avestar Capital LLC’s holdings in Wells Fargo & Company were worth $2,799,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Income Research & Management purchased a new stake in shares of Wells Fargo & Company in the third quarter valued at $211,000. Modus Advisors LLC bought a new position in Wells Fargo & Company during the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth about $30,000. Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $35,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of several recent analyst reports. Barclays increased their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Compass Point upped their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Truist Financial lifted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Trading Down 0.5 %

WFC opened at $79.22 on Thursday. 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 $263.76 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $47.59 and a 12 month high of $81.50. The stock has a fifty day moving average price of $74.20 and a 200-day moving average price of $65.87.

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

Wells Fargo & Company Announces Dividend

The business also recently declared 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 2.02%. 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.