Lake Street Advisors Group LLC Grows Position in Wells Fargo & Company (NYSE:WFC)

Lake Street Advisors Group LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,688 shares of the financial services provider’s stock after purchasing an additional 1,409 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Wells Fargo & Company were worth $1,804,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $38,000. CPA Asset Management LLC purchased a new position in Wells Fargo & Company during the 4th quarter valued at $209,000. Longbow Finance SA grew its position in Wells Fargo & Company by 90.2% in the 4th quarter. Longbow Finance SA now owns 157,710 shares of the financial services provider’s stock valued at $11,078,000 after acquiring an additional 74,784 shares during the last quarter. Todd Asset Management LLC increased its stake in Wells Fargo & Company by 19.2% in the fourth quarter. Todd Asset Management LLC now owns 417,315 shares of the financial services provider’s stock worth $29,312,000 after purchasing an additional 67,148 shares during the period. Finally, FourThought Financial Partners LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $375,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.5 %

NYSE:WFC opened at $76.39 on Thursday. The company’s 50-day simple moving average is $75.55 and its 200-day simple moving average is $67.51. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The stock has a market capitalization of $254.34 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.09%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Wall Street Analyst Weigh In

WFC has been the topic of a number of research analyst reports. Compass Point upped their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Citigroup upped their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Barclays increased their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company 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.