Strategic Financial Concepts LLC Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Strategic Financial Concepts LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 32,210 shares of the financial services provider’s stock, valued at approximately $2,262,000.

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

Analyst Ratings Changes

A number of brokerages recently commented on WFC. Piper Sandler upped their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Truist Financial boosted their price target 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. Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $79.68 on Tuesday. The stock has a market capitalization of $265.29 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $48.62 and a 1 year high of $81.50. The firm has a 50 day moving average of $74.41 and a 200-day moving average of $66.19. 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 earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share 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 the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 earnings per share. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

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