Haverford Trust Co Increases Holdings in Wells Fargo & Company (NYSE:WFC)

Haverford Trust Co grew its holdings in Wells Fargo & Company (NYSE:WFC) by 1.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 54,319 shares of the financial services provider’s stock after acquiring an additional 754 shares during the quarter. Haverford Trust Co’s holdings in Wells Fargo & Company were worth $3,815,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Meridian Wealth Management LLC purchased a new position in Wells Fargo & Company in the third quarter valued at approximately $504,000. Nwam LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter valued at $309,000. Great Valley Advisor Group Inc. grew its position in shares of Wells Fargo & Company by 2.1% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 23,205 shares of the financial services provider’s stock valued at $1,311,000 after buying an additional 487 shares during the last quarter. Algert Global LLC acquired a new stake in Wells Fargo & Company during the 3rd quarter worth $3,981,000. Finally, Larson Financial Group LLC boosted its stake in Wells Fargo & Company by 21.8% in the third quarter. Larson Financial Group LLC now owns 6,129 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 1,097 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on WFC. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Thursday, March 13th. Truist Financial increased 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. UBS Group lifted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, 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 research note on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.18.

Wells Fargo & Company Trading Up 2.4 %

Shares of WFC stock opened at $74.28 on Tuesday. The business’s fifty day moving average price is $76.03 and its 200 day moving average price is $69.62. The firm has a market capitalization of $244.25 billion, a PE ratio of 13.81, a P/E/G ratio of 1.18 and a beta of 1.16. 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 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 EPS. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

About Wells Fargo & Company

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.