Carbahal Olsen Financial Services Group LLC Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Carbahal Olsen Financial Services Group LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,320 shares of the financial services provider’s stock, valued at approximately $303,000. Wells Fargo & Company accounts for approximately 0.3% of Carbahal Olsen Financial Services Group LLC’s investment portfolio, making the stock its 25th biggest position.

Several other large investors also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth $26,000. Investment Counsel Co. of Nevada bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $28,000. Rakuten Securities Inc. lifted its holdings in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares during the period. Modus Advisors LLC purchased a new stake in Wells Fargo & Company during the fourth quarter worth about $30,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $30,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 1.0 %

Shares of Wells Fargo & Company stock opened at $64.63 on Friday. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. 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 50-day moving average of $71.23 and a 200 day moving average of $71.05. The firm has a market cap of $211.02 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 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 analysts’ expectations of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 earnings per share. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.48%. Wells Fargo & Company’s dividend payout ratio is 28.73%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on WFC shares. Truist Financial decreased their price objective on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 14th. Bank of America dropped their price target on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. cut their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Thursday, March 13th. Finally, Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, April 14th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.34.

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.