Wayfinding Financial LLC Purchases New Holdings in Wells Fargo & Company (NYSE:WFC)

Wayfinding Financial LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,754 shares of the financial services provider’s stock, valued at approximately $474,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Prospera Private Wealth LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $132,000. Strategy Asset Managers LLC bought a new position in Wells Fargo & Company during the third quarter worth $691,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Wells Fargo & Company by 21.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 546,624 shares of the financial services provider’s stock valued at $30,879,000 after purchasing an additional 98,015 shares during the period. Moors & Cabot Inc. lifted its stake in shares of Wells Fargo & Company by 1.3% during the 3rd quarter. Moors & Cabot Inc. now owns 51,733 shares of the financial services provider’s stock worth $2,922,000 after buying an additional 651 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of Wells Fargo & Company by 4.1% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 167,011 shares of the financial services provider’s stock worth $9,434,000 after buying an additional 6,631 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Compass Point increased their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Thursday, March 13th. Piper Sandler boosted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, UBS Group raised their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.39.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $72.50 on Friday. The stock has a market cap of $238.38 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The company’s fifty day moving average is $75.90 and its 200 day moving average is $69.24. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

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 for the quarter, beating 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 company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio 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.