Concurrent Investment Advisors LLC Purchases 3,643 Shares of Wells Fargo & Company (NYSE:WFC)

Concurrent Investment Advisors LLC increased its holdings in Wells Fargo & Company (NYSE:WFC) by 8.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,046 shares of the financial services provider’s stock after buying an additional 3,643 shares during the period. Concurrent Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $3,164,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. RW Investment Management LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $202,000. Hardy Reed LLC increased its position in shares of Wells Fargo & Company by 4.0% in the fourth quarter. Hardy Reed LLC now owns 5,564 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 215 shares during the last quarter. Advyzon Investment Management LLC purchased a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $530,000. Sunpointe LLC raised its stake in Wells Fargo & Company by 31.9% in the fourth quarter. Sunpointe LLC now owns 4,758 shares of the financial services provider’s stock valued at $334,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Jessup Wealth Management Inc bought a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $224,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 2.1 %

NYSE:WFC opened at $78.69 on Friday. The firm has a market capitalization of $262.00 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.21 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a fifty day moving average of $75.06 and a 200 day moving average of $66.73. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50.

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, beating the consensus estimate of $1.34 by $0.09. The firm 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 period in the prior year, the firm posted $0.86 earnings per share. On average, research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Barclays increased their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Citigroup increased 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. Finally, Piper Sandler raised their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus 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.