Optivise Advisory Services LLC Invests $215,000 in Wells Fargo & Company (NYSE:WFC)

Optivise Advisory Services LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 3,059 shares of the financial services provider’s stock, valued at approximately $215,000.

A number of other hedge funds also recently added to or reduced their stakes in WFC. Spinnaker Trust lifted its position in shares of Wells Fargo & Company by 1.8% in the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 130 shares during the period. Shakespeare Wealth Management LLC raised its stake in Wells Fargo & Company by 0.9% in the fourth quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider’s stock worth $972,000 after buying an additional 130 shares in the last quarter. MONECO Advisors LLC lifted its holdings in Wells Fargo & Company by 1.9% during the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock worth $493,000 after buying an additional 134 shares during the period. Crown Wealth Group LLC increased its holdings in shares of Wells Fargo & Company by 2.2% in the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 140 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its stake in shares of Wells Fargo & Company by 0.6% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider’s stock worth $1,580,000 after purchasing an additional 144 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price target 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. Piper Sandler lowered their target price on shares of Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Truist Financial reduced their price target on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Morgan Stanley raised their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, April 7th. Finally, Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.34.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $64.63 on Monday. 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 stock has a market capitalization of $211.02 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.18 and a beta of 1.02. The firm’s 50 day simple moving average is $71.23 and its 200-day simple moving average is $71.27. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.15 billion during the quarter, compared to analysts’ expectations of $20.82 billion. During the same quarter in the previous year, the company earned $1.20 earnings per share. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. Analysts expect 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. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 28.73%.

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.