Wells Fargo & Company (NYSE:WFC) Shares Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 25.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 98,699 shares of the financial services provider’s stock after acquiring an additional 19,757 shares during the period. Kestra Private Wealth Services LLC’s holdings in Wells Fargo & Company were worth $6,933,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company in the third quarter valued at approximately $29,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $30,000. Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company during the 3rd quarter valued at $34,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter valued at about $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WFC. Piper Sandler increased their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a research note on Monday, October 14th. Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Finally, Morgan Stanley upped their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Performance

WFC opened at $80.76 on Monday. Wells Fargo & Company has a twelve month low of $47.47 and a twelve month high of $81.50. The stock has a market cap of $268.89 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. The business’s 50 day moving average is $73.89 and its 200-day moving average is $65.47. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 EPS. On average, analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 1.98%. Wells Fargo & Company’s dividend payout ratio is presently 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.