Strategic Financial Services Inc. Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Strategic Financial Services Inc. bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,061 shares of the financial services provider’s stock, valued at approximately $215,000.

Other hedge funds have also bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $26,000. Truvestments Capital LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. Finally, Rakuten Securities Inc. boosted its holdings in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after buying an additional 237 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC opened at $72.79 on Thursday. The stock has a market cap of $239.35 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a fifty day moving average price of $75.88 and a 200 day moving average price of $69.22. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50.

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

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

A number of equities research analysts have commented on WFC shares. Barclays raised their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Morgan Stanley lifted their target price 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. Compass Point increased their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Piper Sandler boosted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Thursday, March 13th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.39.

Wells Fargo & 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.