Scott Capital Advisors LLC Acquires Shares of 2,879 Wells Fargo & Company (NYSE:WFC)

Scott Capital Advisors LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, Holdings Channel.com reports. The fund acquired 2,879 shares of the financial services provider’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company during the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company during the second quarter valued at $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company during the third quarter valued at $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at $30,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of several analyst reports. Truist Financial raised their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. UBS Group lifted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Price Performance

WFC opened at $77.22 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $257.11 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13. The business’s fifty day simple moving average is $72.74 and its 200-day simple moving average is $63.46.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.45 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.