Congress Wealth Management LLC DE Buys 1,091 Shares of Wells Fargo & Company (NYSE:WFC)

Congress Wealth Management LLC DE grew its position in Wells Fargo & Company (NYSE:WFC) by 17.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,452 shares of the financial services provider’s stock after purchasing an additional 1,091 shares during the period. Congress Wealth Management LLC DE’s holdings in Wells Fargo & Company were worth $524,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in WFC. Fisher Asset Management LLC increased its holdings in Wells Fargo & Company by 13.8% during the 3rd quarter. Fisher Asset Management LLC now owns 24,833 shares of the financial services provider’s stock valued at $1,403,000 after purchasing an additional 3,016 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Wells Fargo & Company during the third quarter worth $256,000. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at $29,000. CreativeOne Wealth LLC increased its stake in shares of Wells Fargo & Company by 51.7% in the third quarter. CreativeOne Wealth LLC now owns 9,637 shares of the financial services provider’s stock valued at $544,000 after buying an additional 3,285 shares in the last quarter. Finally, Fiduciary Trust Co lifted its position in Wells Fargo & Company by 0.9% during the 3rd quarter. Fiduciary Trust Co now owns 45,907 shares of the financial services provider’s stock worth $2,593,000 after buying an additional 397 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. decreased their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a research report on Thursday. Truist Financial raised their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Compass Point lifted their price target 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. Finally, Citigroup reduced their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating and twelve 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 an average price target of $75.55.

Wells Fargo & Company Stock Down 7.5 %

WFC traded down $5.39 during trading on Thursday, reaching $66.87. The company had a trading volume of 13,140,653 shares, compared to its average volume of 17,093,658. The business’s fifty day moving average price is $75.50 and its 200 day moving average price is $70.43. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a market cap of $218.34 billion, a P/E ratio of 12.43, a PEG ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last posted 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. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. Equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given 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 2.39%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.