Van Strum & Towne Inc. Increases Stake in Wells Fargo & Company (NYSE:WFC)

Van Strum & Towne Inc. lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 26.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,639 shares of the financial services provider’s stock after buying an additional 2,000 shares during the quarter. Van Strum & Towne Inc.’s holdings in Wells Fargo & Company were worth $677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of WFC. Catalyst Funds Management Pty Ltd boosted its stake in Wells Fargo & Company by 102.2% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 83,100 shares of the financial services provider’s stock worth $5,837,000 after acquiring an additional 42,000 shares in the last quarter. Valtinson Bruner Financial Planning LLC boosted its stake in Wells Fargo & Company by 8.7% during the fourth quarter. Valtinson Bruner Financial Planning LLC now owns 20,147 shares of the financial services provider’s stock worth $1,415,000 after acquiring an additional 1,608 shares in the last quarter. Buckley Wealth Management LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth about $211,000. Intact Investment Management Inc. boosted its stake in Wells Fargo & Company by 3.8% during the fourth quarter. Intact Investment Management Inc. now owns 187,000 shares of the financial services provider’s stock worth $13,135,000 after acquiring an additional 6,850 shares in the last quarter. Finally, Northwest Wealth Management LLC boosted its stake in Wells Fargo & Company by 3.0% during the fourth quarter. Northwest Wealth Management LLC now owns 14,846 shares of the financial services provider’s stock worth $1,043,000 after acquiring an additional 431 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on WFC shares. Truist Financial upped their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Piper Sandler upped their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Thursday. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Compass Point upped their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $74.39.

Wells Fargo & Company Price Performance

WFC stock opened at $70.96 on Friday. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. 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 company has a fifty day simple moving average of $75.89 and a two-hundred day simple moving average of $68.84. The firm has a market capitalization of $233.31 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its 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. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

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.