Kentucky Trust Co Invests $806,000 in Wells Fargo & Company (NYSE:WFC)

Kentucky Trust Co purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,475 shares of the financial services provider’s stock, valued at approximately $806,000.

A number of other hedge funds have also made changes to their positions in the stock. Gladstone Institutional Advisory LLC grew its position in shares of Wells Fargo & Company by 18.3% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 40,687 shares of the financial services provider’s stock worth $2,858,000 after buying an additional 6,284 shares in the last quarter. TFB Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $214,000. Capital Advisors Inc. OK acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $223,000. Certuity LLC grew its position in shares of Wells Fargo & Company by 1.9% during the fourth quarter. Certuity LLC now owns 312,620 shares of the financial services provider’s stock worth $21,958,000 after buying an additional 5,709 shares in the last quarter. Finally, TCV Trust & Wealth Management Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $244,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.7 %

Shares of WFC stock opened at $79.66 on Wednesday. The firm has a 50 day moving average price of $73.97 and a two-hundred day moving average price of $65.64. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $265.23 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $47.59 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. As a group, analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.01%. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research reports. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Barclays increased their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Piper Sandler increased their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley increased their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Truist Financial raised their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. 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.com, Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $73.39.

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.