TCV Trust & Wealth Management Inc. Makes New Investment in Wells Fargo & Company (NYSE:WFC)

TCV Trust & Wealth Management Inc. acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,476 shares of the financial services provider’s stock, valued at approximately $244,000.

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

Wells Fargo & Company Stock Performance

WFC stock opened at $79.66 on Wednesday. The firm has a 50 day simple moving average of $73.97 and a 200 day simple moving average of $65.64. Wells Fargo & Company has a 52 week low of $47.59 and a 52 week high of $81.50. The stock has a market cap 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. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the business posted $0.86 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal 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 paid 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 2.01%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Analyst Upgrades and Downgrades

Several research firms recently commented on WFC. Piper Sandler increased 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 note on Tuesday, December 3rd. The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. UBS Group lifted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Truist Financial boosted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley increased 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $73.39.

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.