WealthPlan Investment Management LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 2,174.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,287 shares of the financial services provider's stock after purchasing an additional 20,351 shares during the quarter. WealthPlan Investment Management LLC's holdings in Wells Fargo & Company were worth $870,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Studio Investment Management LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $28,000. Baystate Wealth Management LLC increased its position in shares of Wells Fargo & Company by 53.0% in the third quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider's stock valued at $33,000 after buying an additional 278 shares in the last quarter. Impact Partnership Wealth LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $34,000. Finally, Central Bank & Trust Co. increased its position in shares of Wells Fargo & Company by 444.8% in the third quarter. Central Bank & Trust Co. now owns 899 shares of the financial services provider's stock valued at $37,000 after buying an additional 734 shares in the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.
Wells Fargo & Company Stock Performance
Shares of Wells Fargo & Company stock opened at $48.06 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The firm has a market cap of $174.54 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 1.00 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $35.25 and a 52 week high of $51.44. The business's fifty day simple moving average is $48.53 and its 200-day simple moving average is $44.25.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.30). The firm had revenue of $20.48 billion during the quarter, compared to analysts' expectations of $20.30 billion. Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. Wells Fargo & Company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 EPS. Equities analysts forecast that Wells Fargo & Company will post 4.72 earnings per share for the current year.
Wells Fargo & Company Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 2nd will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.40 annualized dividend and a yield of 2.91%. Wells Fargo & Company's dividend payout ratio (DPR) is 29.05%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Raymond James boosted their price objective on Wells Fargo & Company from $55.00 to $58.00 and gave the company a "strong-buy" rating in a research report on Tuesday, January 16th. Piper Sandler cut their price objective on Wells Fargo & Company from $51.00 to $50.00 and set a "neutral" rating for the company in a research report on Tuesday, January 16th. Robert W. Baird restated a "neutral" rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a research report on Monday, January 8th. Barclays boosted their price objective on Wells Fargo & Company from $54.00 to $66.00 and gave the company an "overweight" rating in a research report on Tuesday, January 2nd. Finally, The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Friday, December 1st. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $51.43.
Check Out Our Latest Analysis on WFC
About Wells Fargo & Company
(
Free Report)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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