Portfolio Design Labs LLC Increases Stake in Wells Fargo & Company (NYSE:WFC)

Portfolio Design Labs LLC raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 21.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 68,158 shares of the financial services provider’s stock after purchasing an additional 11,844 shares during the quarter. Wells Fargo & Company makes up approximately 1.0% of Portfolio Design Labs LLC’s portfolio, making the stock its 22nd largest holding. Portfolio Design Labs LLC’s holdings in Wells Fargo & Company were worth $4,787,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WFC. Income Research & Management purchased a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at approximately $211,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the 4th quarter valued at $30,000. Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $35,000. Finally, Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the third quarter valued at $29,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on WFC. Piper Sandler increased their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI upped their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price target for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $79.66 on Wednesday. The stock has a market cap of $265.23 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 1.22 and a beta of 1.18. The stock’s 50-day moving average is $73.97 and its 200 day moving average is $65.64. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 1-year low of $47.59 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the firm posted $0.86 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.01%. 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.