Carlson Capital L.P. Invests $1.48 Million in Wells Fargo & Company (NYSE:WFC)

Carlson Capital L.P. purchased a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,000 shares of the financial services provider’s stock, valued at approximately $1,475,000. Wells Fargo & Company accounts for about 0.9% of Carlson Capital L.P.’s investment portfolio, making the stock its 8th biggest position.

Other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in Wells Fargo & Company in the third quarter valued at $29,000. Modus Advisors LLC bought a new position in Wells Fargo & Company in the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company in the fourth quarter valued at $30,000. Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company in the fourth quarter valued at $32,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Wells Fargo & Company in the third quarter valued at $34,000. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WFC. The Goldman Sachs Group increased their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Keefe, Bruyette & Woods increased their target price 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. Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Truist Financial upped their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Piper Sandler upped their price target 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 investment 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, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $76.39 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a 50-day simple moving average of $75.55 and a two-hundred day simple moving average of $67.51. The firm has a market capitalization of $254.34 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate 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 business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period last year, the business posted $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

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.