Buckley Wealth Management LLC Invests $211,000 in Wells Fargo & Company (NYSE:WFC)

Buckley Wealth Management LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 3,000 shares of the financial services provider’s stock, valued at approximately $211,000.

Several other institutional investors also recently modified their holdings of WFC. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $26,000. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $29,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. Finally, Rakuten Securities Inc. grew its position in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after buying an additional 237 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 3.6 %

Shares of Wells Fargo & Company stock opened at $70.96 on Friday. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The stock has a market cap of $233.31 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The business’s 50 day moving average is $75.89 and its 200-day moving average is $68.84.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data 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. 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 analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The business’s revenue was down .5% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WFC shares. Keefe, Bruyette & Woods boosted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Compass Point boosted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Barclays boosted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. UBS Group boosted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Morgan Stanley boosted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.39.

About Wells Fargo & Company

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.