Smith & Howard Wealth Management LLC Purchases Shares of 3,060 Wells Fargo & Company (NYSE:WFC)

Smith & Howard Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,060 shares of the financial services provider’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $26,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $32,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $35,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

NYSE WFC opened at $66.60 on Tuesday. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The stock’s 50-day moving average is $76.02 and its two-hundred day moving average is $68.67. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market cap of $218.98 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period last year, the company earned $0.86 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.40%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research analyst reports. Truist Financial increased their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Citigroup increased their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.