Wealth Alliance Raises Stock Position in Wells Fargo & Company (NYSE:WFC)

Wealth Alliance grew its stake in Wells Fargo & Company (NYSE:WFC) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,602 shares of the financial services provider’s stock after buying an additional 1,197 shares during the period. Wealth Alliance’s holdings in Wells Fargo & Company were worth $768,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. First Financial Corp IN grew its stake in Wells Fargo & Company by 4.9% in the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock worth $226,000 after buying an additional 214 shares in the last quarter. CX Institutional grew its stake in Wells Fargo & Company by 1.1% in the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after buying an additional 217 shares in the last quarter. ERTS Wealth Advisors LLC grew its stake in Wells Fargo & Company by 3.5% in the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after buying an additional 228 shares in the last quarter. Prio Wealth Limited Partnership grew its stake in Wells Fargo & Company by 1.7% in the 4th quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock worth $704,000 after buying an additional 233 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew its stake in Wells Fargo & Company by 19.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock worth $75,000 after buying an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE WFC opened at $56.40 on Wednesday. The stock has a market cap of $199.68 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.15 and a beta of 1.19. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $58.44. The company’s 50 day moving average is $55.25 and its two-hundred day moving average is $48.55.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data 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. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter last year, the business posted $1.23 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts anticipate that Wells Fargo & Company will post 4.86 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WFC shares. Piper Sandler cut their price objective on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday. Odeon Capital Group cut shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a research note on Thursday, January 18th. Robert W. Baird reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a research note on Monday, January 8th. Finally, Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Profile

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.