Cape Investment Advisory Inc. Grows Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Cape Investment Advisory Inc. grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,608 shares of the financial services provider’s stock after purchasing an additional 605 shares during the quarter. Cape Investment Advisory Inc.’s holdings in Wells Fargo & Company were worth $534,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth $30,000. Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company in the fourth quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $35,000. Finally, BankPlus Trust Department acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WFC shares. Keefe, Bruyette & Woods lifted their price objective 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. UBS Group lifted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. 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 report on Tuesday, December 3rd. Finally, Compass Point boosted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Eleven equities research 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 a consensus price target of $73.39.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $78.35 on Friday. 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 12 month low of $50.15 and a 12 month high of $81.50. The company has a fifty day moving average price of $75.87 and a two-hundred day moving average price of $67.86. The company has a market cap of $260.87 billion, a PE ratio of 14.56, a P/E/G ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business 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 for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. Research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s 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.