Apriem Advisors Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Apriem Advisors bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,896 shares of the financial services provider’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pinnacle Associates Ltd. grew its position in Wells Fargo & Company by 3.6% in the 3rd quarter. Pinnacle Associates Ltd. now owns 202,013 shares of the financial services provider’s stock valued at $11,412,000 after purchasing an additional 7,105 shares during the period. SteelPeak Wealth LLC lifted its stake in shares of Wells Fargo & Company by 4.4% in the third quarter. SteelPeak Wealth LLC now owns 7,323 shares of the financial services provider’s stock valued at $414,000 after buying an additional 311 shares in the last quarter. Voisard Asset Management Group Inc. lifted its stake in shares of Wells Fargo & Company by 16.9% in the third quarter. Voisard Asset Management Group Inc. now owns 1,571 shares of the financial services provider’s stock valued at $89,000 after buying an additional 227 shares in the last quarter. HM Payson & Co. increased its position in shares of Wells Fargo & Company by 8.5% during the third quarter. HM Payson & Co. now owns 44,255 shares of the financial services provider’s stock worth $2,500,000 after acquiring an additional 3,451 shares in the last quarter. Finally, AustralianSuper Pty Ltd raised its holdings in shares of Wells Fargo & Company by 43.7% in the 3rd quarter. AustralianSuper Pty Ltd now owns 1,419,753 shares of the financial services provider’s stock worth $80,202,000 after acquiring an additional 431,498 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 0.2 %

Shares of Wells Fargo & Company stock opened at $76.61 on Friday. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The stock’s 50-day simple moving average is $75.71 and its 200 day simple moving average is $67.57. The stock has a market capitalization of $255.06 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.18 and a beta of 1.18. 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 (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of analyst reports. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods upped their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Citigroup raised their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Morgan Stanley raised their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Truist Financial raised their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $73.39.

About Wells Fargo & Company

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.