Wells Fargo & Company (NYSE:WFC) Shares Bought by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,626 shares of the financial services provider’s stock after buying an additional 1,119 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Wells Fargo & Company were worth $4,399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $26,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $30,000. Rakuten Securities Inc. lifted its stake in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research analyst reports. Truist Financial raised their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” 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 stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Citigroup reduced their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.97.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $70.71 on Monday. The firm has a market capitalization of $230.87 billion, a P/E ratio of 13.14, a PEG ratio of 1.18 and a beta of 1.16. The business has a 50-day moving average of $75.84 and a 200-day moving average of $70.14. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. 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 issued its earnings results 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 net margin of 15.73% and a return on equity of 12.38%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. Wells Fargo & Company’s payout ratio is 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.