Howard Bailey Securities LLC Has $664,000 Stake in Wells Fargo & Company (NYSE:WFC)

Howard Bailey Securities LLC boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 12.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,454 shares of the financial services provider’s stock after acquiring an additional 1,082 shares during the period. Howard Bailey Securities LLC’s holdings in Wells Fargo & Company were worth $664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in WFC. Hemington Wealth Management increased its position in Wells Fargo & Company by 13.3% during the fourth quarter. Hemington Wealth Management now owns 2,364 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 278 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $30,000. Hidden Cove Wealth Management LLC bought a new position in Wells Fargo & Company in the 4th quarter valued at about $390,000. Van ECK Associates Corp acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $4,342,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Wells Fargo & Company by 14.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 445,042 shares of the financial services provider’s stock worth $31,237,000 after acquiring an additional 56,458 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.5 %

Shares of WFC opened at $79.22 on Thursday. The business’s 50-day moving average price is $74.08 and its 200-day moving average price is $65.78. 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 has a twelve month low of $47.59 and a twelve month high of $81.50. The stock has a market cap of $263.76 billion, a PE ratio of 14.72, a P/E/G ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.02%. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WFC. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial boosted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Barclays raised their price objective on Wells Fargo & Company from $90.00 to $92.00 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 research note on Tuesday, December 10th. Finally, Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $73.39.

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.