Meridian Wealth Management LLC Raises Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Meridian Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,105 shares of the financial services provider’s stock after acquiring an additional 176 shares during the period. Meridian Wealth Management LLC’s holdings in Wells Fargo & Company were worth $640,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company in the fourth quarter worth $30,000. McClarren Financial Advisors Inc. purchased a new stake in Wells Fargo & Company in the fourth quarter worth $30,000. Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company in the fourth quarter worth $32,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Wells Fargo & Company in the third quarter worth $34,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WFC. Keefe, Bruyette & Woods raised their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Piper Sandler raised their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. UBS Group raised their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group raised their price target 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 analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Down 5.0 %

Shares of WFC stock opened at $73.21 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $76.03 and a two-hundred day moving average price of $68.24. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The firm has a market cap of $240.73 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 1.18 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. Equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

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.