10,680 Shares in Wells Fargo & Company (NYSE:WFC) Bought by North Forty Two & Co.

North Forty Two & Co. bought a new position in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,680 shares of the financial services provider’s stock, valued at approximately $750,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company during the third quarter valued at $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at $30,000. Finally, Rakuten Securities Inc. lifted its holdings in shares of Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 237 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $71.08 on Wednesday. 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 firm has a market cap of $233.72 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.18 and a beta of 1.16. The stock has a 50-day moving average price of $75.86 and a 200 day moving average price of $69.19. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced 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. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 EPS. Research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Ratings Changes

A number of brokerages have issued reports on WFC. Truist Financial lifted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Citigroup lifted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. 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. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Finally, Morgan Stanley lifted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $74.39.

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.