Wells Fargo & Company (NYSE:WFC) Stake Lifted by Quadrant Private Wealth Management LLC

Quadrant Private Wealth Management LLC lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,880 shares of the financial services provider’s stock after purchasing an additional 460 shares during the quarter. Quadrant Private Wealth Management LLC’s holdings in Wells Fargo & Company were worth $694,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Income Research & Management bought a new position in shares of Wells Fargo & Company in the third quarter worth $211,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $30,000. Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $32,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $35,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.1 %

WFC opened at $79.68 on Friday. The business has a 50-day moving average of $74.30 and a 200-day moving average of $65.96. 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 has a fifty-two week low of $48.62 and a fifty-two week high of $81.50. The company has a market capitalization of $265.29 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the business earned $0.86 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WFC. Truist Financial upped their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Morgan Stanley upped their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup upped their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Evercore ISI upped their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $73.39.

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.