Crux Wealth Advisors Buys Shares of 9,885 Wells Fargo & Company (NYSE:WFC)

Crux Wealth Advisors purchased a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,885 shares of the financial services provider’s stock, valued at approximately $694,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $26,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $30,000. Rakuten Securities Inc. grew its stake in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares in the last quarter. Finally, Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $32,000. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup lowered their price target on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Truist Financial cut their price target on Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Thursday, March 13th. Piper Sandler upgraded shares of Wells Fargo & Company from a “neutral” rating to an “overweight” rating and set a $77.00 price target for the company in a report on Tuesday. Finally, Bank of America dropped their price objective on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.66.

Wells Fargo & Company Stock Down 1.2 %

Wells Fargo & Company stock opened at $62.36 on Friday. The business’s 50-day simple moving average is $72.83 and its two-hundred day simple moving average is $70.87. The company has a market cap of $203.62 billion, a PE ratio of 11.59, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.16. The firm had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 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 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 earnings per share. Equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced 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 2.57%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

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.