Wells Fargo & Company (NYSE:WFC) Shares Purchased by Florida Financial Advisors LLC

Florida Financial Advisors LLC grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 28.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,797 shares of the financial services provider’s stock after purchasing an additional 1,294 shares during the period. Florida Financial Advisors LLC’s holdings in Wells Fargo & Company were worth $407,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $26,000. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth $29,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $30,000. Finally, Rakuten Securities Inc. raised its holdings in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Piper Sandler increased their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Thursday, March 13th. Citigroup cut their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

Wells Fargo & Company Stock Up 2.4 %

Shares of Wells Fargo & Company stock opened at $74.28 on Tuesday. The company has a market capitalization of $244.25 billion, a P/E ratio of 13.81, a PEG ratio of 1.18 and a beta of 1.16. The business’s fifty day moving average price is $76.03 and its two-hundred day moving average price is $69.62. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. 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 released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating 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 business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the company posted $0.86 EPS. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.15%. Wells Fargo & Company’s payout ratio is 29.74%.

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.