Transce3nd LLC Invests $625,000 in Wells Fargo & Company (NYSE:WFC)

Transce3nd LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 8,874 shares of the financial services provider’s stock, valued at approximately $625,000.

Several other large investors have also made changes to their positions in the business. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $26,000. Investment Counsel Co. of Nevada purchased a new position in Wells Fargo & Company in the 4th quarter valued at about $28,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company during the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. increased its position in shares of 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 purchasing an additional 237 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 1.0 %

Shares of NYSE WFC opened at $64.63 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $211.02 billion, a PE ratio of 12.01, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The stock has a fifty day simple moving average of $71.23 and a 200-day simple moving average of $71.16.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.16. The company had revenue of $20.15 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 EPS. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WFC shares. JPMorgan Chase & Co. lowered their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, April 14th. Bank of America cut their price target on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Piper Sandler dropped their target price on Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Raymond James dropped their price objective on shares of Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating for the company in a report on Monday, April 14th. Six equities research 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.34.

Wells Fargo & Company 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.