Wells Fargo & Company (NYSE:WFC) Stock Position Lifted by Certuity LLC

Certuity LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 312,620 shares of the financial services provider’s stock after purchasing an additional 5,709 shares during the quarter. Wells Fargo & Company makes up 2.4% of Certuity LLC’s investment portfolio, making the stock its 10th largest holding. Certuity LLC’s holdings in Wells Fargo & Company were worth $21,958,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth about $30,000. Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $32,000. MidAtlantic Capital Management Inc. purchased a new stake in Wells Fargo & Company during the third quarter valued at about $34,000. Finally, FSA Wealth Management LLC bought a new position in Wells Fargo & Company during the third quarter worth about $34,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 0.7 %

NYSE:WFC opened at $79.66 on Wednesday. The firm has a market capitalization of $265.23 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $47.59 and a 52 week high of $81.50. 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 company has a fifty day moving average of $73.97 and a 200 day moving average of $65.64.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the company posted $0.86 EPS. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts recently commented on WFC shares. Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Barclays increased their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Truist Financial boosted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and a consensus target price of $73.39.

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.