First Dallas Securities Inc. Has $1.15 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

First Dallas Securities Inc. lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 116.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,375 shares of the financial services provider’s stock after buying an additional 8,825 shares during the period. First Dallas Securities Inc.’s holdings in Wells Fargo & Company were worth $1,150,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $30,000. Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company during the third quarter valued at $34,000. Finally, FSA Wealth Management LLC acquired a new stake in Wells Fargo & Company during the third quarter valued at $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.8 %

Wells Fargo & Company stock opened at $78.14 on Tuesday. 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 business’s 50-day simple moving average is $73.59 and its 200-day simple moving average is $64.78. The firm has a market capitalization of $260.17 billion, a PE ratio of 14.52, a PEG ratio of 1.19 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $47.45 and a 52 week high of $79.29.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) 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 firm 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 company’s quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.05%. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley lifted 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. Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Keefe, Bruyette & Woods lifted 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. Finally, Truist Financial lifted 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. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $73.39.

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.