Petros Family Wealth LLC Takes $461,000 Position in Wells Fargo & Company (NYSE:WFC)

Petros Family Wealth LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,557 shares of the financial services provider’s stock, valued at approximately $461,000.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WFC shares. Truist Financial decreased their target price on shares of 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. Piper Sandler upgraded Wells Fargo & Company from a “neutral” rating to an “overweight” rating and set a $77.00 price objective on the stock in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Citigroup reduced their price target on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Finally, Barclays boosted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.66.

Wells Fargo & Company Stock Down 1.2 %

NYSE:WFC opened at $62.36 on Friday. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The stock’s fifty day moving average is $72.83 and its two-hundred day moving average is $70.87. The stock has a market capitalization of $203.62 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.16. The firm had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. Research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. 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.