Bedel Financial Consulting Inc. Acquires 1,070 Shares of Wells Fargo & Company (NYSE:WFC)

Bedel Financial Consulting Inc. raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 13.7% during the fourth quarter, HoldingsChannel reports. The fund owned 8,897 shares of the financial services provider’s stock after purchasing an additional 1,070 shares during the quarter. Bedel Financial Consulting Inc.’s holdings in Wells Fargo & Company were worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pure Financial Advisors LLC increased its position in shares of Wells Fargo & Company by 4.8% during the third quarter. Pure Financial Advisors LLC now owns 17,635 shares of the financial services provider’s stock valued at $996,000 after buying an additional 815 shares during the period. KG&L Capital Management LLC increased its holdings in shares of Wells Fargo & Company by 141.6% in the third quarter. KG&L Capital Management LLC now owns 27,334 shares of the financial services provider’s stock worth $1,479,000 after purchasing an additional 16,019 shares during the period. Intact Investment Management Inc. increased its holdings in shares of Wells Fargo & Company by 8.8% in the third quarter. Intact Investment Management Inc. now owns 180,150 shares of the financial services provider’s stock worth $10,177,000 after purchasing an additional 14,500 shares during the period. Cohen Capital Management Inc. increased its holdings in shares of Wells Fargo & Company by 29.3% in the third quarter. Cohen Capital Management Inc. now owns 14,156 shares of the financial services provider’s stock worth $800,000 after purchasing an additional 3,210 shares during the period. Finally, National Pension Service increased its stake in Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after acquiring an additional 897,195 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Truist Financial increased their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Citigroup boosted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Piper Sandler increased their price target 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. Finally, UBS Group increased their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $76.96 on Tuesday. The stock’s 50 day simple moving average is $76.00 and its two-hundred day simple moving average is $68.11. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market cap of $253.06 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly 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 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, analysts expect 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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

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.