Nwam LLC Buys 3,191 Shares of Wells Fargo & Company (NYSE:WFC)

Nwam LLC increased its stake in Wells Fargo & Company (NYSE:WFC) by 58.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,664 shares of the financial services provider’s stock after acquiring an additional 3,191 shares during the quarter. Nwam LLC’s holdings in Wells Fargo & Company were worth $609,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Cable Hill Partners LLC increased its stake in shares of Wells Fargo & Company by 41.6% in the 4th quarter. Cable Hill Partners LLC now owns 6,088 shares of the financial services provider’s stock valued at $428,000 after acquiring an additional 1,790 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $56,000. Carlson Capital L.P. bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $1,475,000. Pointe Capital Management LLC increased its stake in shares of Wells Fargo & Company by 1.3% in the 4th quarter. Pointe Capital Management LLC now owns 12,460 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 164 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its stake in shares of Wells Fargo & Company by 2.1% in the 4th quarter. Checchi Capital Advisers LLC now owns 54,313 shares of the financial services provider’s stock valued at $3,815,000 after acquiring an additional 1,126 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC opened at $78.35 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market capitalization of $260.87 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 1.18 and a beta of 1.18. The firm’s fifty day moving average price is $75.87 and its two-hundred day moving average price is $67.75. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50.

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 for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion for 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 firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Analyst Ratings Changes

WFC has been the subject of several research analyst reports. Compass Point lifted their price objective 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. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Piper Sandler boosted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Finally, Truist Financial boosted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price 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.