GDS Wealth Management Takes $209,000 Position in Wells Fargo & Company (NYSE:WFC)

GDS Wealth Management acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,982 shares of the financial services provider’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WFC. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $29,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $30,000. Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company in the third quarter valued at approximately $34,000. Finally, FSA Wealth Management LLC acquired a new position in Wells Fargo & Company during the third quarter worth $34,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Piper Sandler increased their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Compass Point increased their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Evercore ISI lifted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Up 1.8 %

WFC opened at $79.56 on Wednesday. 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 52 week low of $47.45 and a 52 week high of $79.85. The business’s 50 day moving average is $73.61 and its two-hundred day moving average is $64.92. The firm has a market cap of $264.88 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18.

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, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. On average, research analysts predict that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 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.