10,252 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 10,252 shares of the financial services provider’s stock, valued at approximately $505,000.

Several other institutional investors also recently bought and sold shares of the business. Fortis Group Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter valued at $25,000. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. lifted its stake in shares of Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 356,620 shares in the last quarter. Studio Investment Management LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at about $28,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC traded down $0.56 during trading on Wednesday, hitting $56.41. 25,620,002 shares of the company traded hands, compared to its average volume of 14,756,598. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The business’s fifty day moving average is $55.25 and its 200-day moving average is $48.55. The stock has a market capitalization of $199.71 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.15 and a beta of 1.19. Wells Fargo & Company has a one year low of $36.40 and a one year high of $58.44.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 earnings per share. As a group, equities analysts predict that Wells Fargo & Company will post 4.86 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Wall Street Analyst Weigh In

WFC has been the topic of several recent research reports. Compass Point reissued a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Piper Sandler lowered their price target on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, January 16th. Odeon Capital Group lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective on the stock. in a report on Thursday, January 18th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday. Finally, Raymond James boosted their price target on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 16th. Thirteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $58.85.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.