Wells Fargo & Company (NYSE:WFC) Position Boosted by Sather Financial Group Inc

Sather Financial Group Inc grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 153.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,983 shares of the financial services provider’s stock after buying an additional 14,532 shares during the quarter. Sather Financial Group Inc’s holdings in Wells Fargo & Company were worth $1,685,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WFC. Redhawk Wealth Advisors Inc. grew its position in Wells Fargo & Company by 31.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 6,202 shares of the financial services provider’s stock worth $350,000 after buying an additional 1,493 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Wells Fargo & Company by 133.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,495 shares of the financial services provider’s stock worth $197,000 after purchasing an additional 2,000 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in Wells Fargo & Company during the third quarter worth approximately $81,000. Iams Wealth Management LLC grew its holdings in Wells Fargo & Company by 8.8% during the third quarter. Iams Wealth Management LLC now owns 35,145 shares of the financial services provider’s stock valued at $1,985,000 after purchasing an additional 2,835 shares during the last quarter. Finally, PFG Advisors raised its position in shares of Wells Fargo & Company by 3.6% in the third quarter. PFG Advisors now owns 101,761 shares of the financial services provider’s stock valued at $5,748,000 after purchasing an additional 3,536 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WFC. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Compass Point increased their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Piper Sandler lifted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Trading Up 0.7 %

Shares of NYSE:WFC opened at $79.66 on Wednesday. Wells Fargo & Company has a 12-month low of $47.59 and a 12-month high of $81.50. The business has a 50 day moving average of $73.97 and a 200-day moving average of $65.64. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock has a market cap of $265.23 billion, a PE ratio of 14.81, a P/E/G ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the business posted $0.86 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. Wells Fargo & Company’s payout ratio is presently 29.74%.

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.