Kestra Investment Management LLC Acquires 703 Shares of Wells Fargo & Company (NYSE:WFC)

Kestra Investment Management LLC increased its position in Wells Fargo & Company (NYSE:WFC) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,273 shares of the financial services provider’s stock after purchasing an additional 703 shares during the quarter. Kestra Investment Management LLC’s holdings in Wells Fargo & Company were worth $581,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Vest Financial LLC lifted its stake in shares of Wells Fargo & Company by 197.2% in the 3rd quarter. Vest Financial LLC now owns 14,793 shares of the financial services provider’s stock valued at $836,000 after purchasing an additional 9,816 shares during the period. Raleigh Capital Management Inc. lifted its stake in shares of Wells Fargo & Company by 13.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 10,535 shares of the financial services provider’s stock valued at $595,000 after purchasing an additional 1,222 shares during the period. Integrity Financial Corp WA lifted its stake in shares of Wells Fargo & Company by 44.5% in the 3rd quarter. Integrity Financial Corp WA now owns 10,831 shares of the financial services provider’s stock valued at $612,000 after purchasing an additional 3,333 shares during the period. Foundations Investment Advisors LLC lifted its stake in shares of Wells Fargo & Company by 5.8% in the 3rd quarter. Foundations Investment Advisors LLC now owns 21,483 shares of the financial services provider’s stock valued at $1,214,000 after purchasing an additional 1,179 shares during the period. Finally, Oakworth Capital Inc. lifted its stake in shares of Wells Fargo & Company by 16.8% in the 3rd quarter. Oakworth Capital Inc. now owns 6,228 shares of the financial services provider’s stock valued at $352,000 after purchasing an additional 896 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $80.71 on Wednesday. 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 one year low of $50.15 and a one year high of $81.50. The firm has a market capitalization of $268.72 billion, a P/E ratio of 15.00, a PEG ratio of 1.22 and a beta of 1.18. The business has a fifty day moving average of $74.72 and a 200 day moving average of $66.55.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data 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 return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Compass Point raised their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. 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 note 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 note on Tuesday, November 19th. UBS Group lifted their price objective 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. Finally, Piper Sandler lifted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.