Ironwood Financial llc Takes Position in Wells Fargo & Company (NYSE:WFC)

Ironwood Financial llc bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,141 shares of the financial services provider’s stock, valued at approximately $221,000.

A number of other institutional investors have also recently added to or reduced their stakes in WFC. Cardinal Capital Management Inc. raised its position in shares of Wells Fargo & Company by 2.0% during the third quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after acquiring an additional 11,037 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Wells Fargo & Company by 37.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock valued at $36,055,000 after purchasing an additional 173,083 shares during the period. Atlantic Union Bankshares Corp raised its holdings in Wells Fargo & Company by 17.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock worth $10,031,000 after purchasing an additional 26,320 shares during the last quarter. Chartwell Investment Partners LLC lifted its position in shares of Wells Fargo & Company by 16.4% in the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock worth $7,504,000 after purchasing an additional 18,717 shares during the period. Finally, Argus Investors Counsel Inc. increased its position in shares of Wells Fargo & Company by 34.6% during the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after buying an additional 8,107 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 1.7 %

NYSE:WFC opened at $77.22 on Monday. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13. The firm has a 50-day moving average price of $72.74 and a two-hundred day moving average price of $63.46. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $257.11 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued 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. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the business posted $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. On average, equities analysts expect that Wells Fargo & Company will post 5.45 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.07%. Wells Fargo & Company’s payout ratio is currently 33.26%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WFC. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Barclays boosted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research note on Tuesday, October 8th. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, The Goldman Sachs Group upped their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.39.

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.