Wells Fargo & Company (NYSE:WFC) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 19.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,330 shares of the financial services provider’s stock after buying an additional 30,510 shares during the period. Empowered Funds LLC’s holdings in Wells Fargo & Company were worth $13,369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jacobsen Capital Management raised its stake in shares of Wells Fargo & Company by 2.8% during the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 148 shares during the period. Quad Cities Investment Group LLC raised its stake in shares of Wells Fargo & Company by 0.3% during the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock valued at $3,693,000 after purchasing an additional 158 shares during the period. Investors Research Corp raised its stake in shares of Wells Fargo & Company by 1.2% during the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 160 shares during the period. Ellenbecker Investment Group raised its stake in shares of Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 164 shares during the period. Finally, Income Research & Management purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at approximately $211,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

WFC stock opened at $80.76 on Friday. The company has a market capitalization of $268.89 billion, a P/E ratio of 15.01, a PEG ratio of 1.22 and a beta of 1.18. The company has a 50-day simple moving average of $73.89 and a 200 day simple moving average of $65.43. Wells Fargo & Company has a fifty-two week low of $47.47 and a fifty-two week high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

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 for the quarter, topping the consensus estimate 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 net margin of 15.73% and a return on equity of 12.38%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 earnings per share. Sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share 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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WFC shares. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Piper Sandler lifted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Compass Point boosted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Barclays boosted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.39.

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.