Wells Fargo & Company (NYSE:WFC) Shares Purchased by C2C Wealth Management LLC

C2C Wealth Management LLC raised its holdings in Wells Fargo & Company (NYSE:WFC) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,261 shares of the financial services provider’s stock after buying an additional 400 shares during the period. Wells Fargo & Company makes up approximately 0.9% of C2C Wealth Management LLC’s portfolio, making the stock its 28th largest position. C2C Wealth Management LLC’s holdings in Wells Fargo & Company were worth $931,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $26,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at $30,000. Rakuten Securities Inc. increased its holdings in Wells Fargo & Company by 126.7% during the 4th 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. acquired a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WFC has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a research report on Thursday. 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 report on Tuesday, December 10th. UBS Group upped their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Truist Financial boosted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.55.

Wells Fargo & Company Stock Down 7.5 %

WFC traded down $5.39 during midday trading on Thursday, reaching $66.87. The company’s stock had a trading volume of 13,140,653 shares, compared to its average volume of 17,093,658. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock’s 50-day moving average is $75.50 and its 200-day moving average is $70.43. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The firm has a market capitalization of $218.34 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the company posted $0.86 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors 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 2.39%. Wells Fargo & Company’s dividend payout ratio 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.