Roxbury Financial LLC Acquires Shares of 30,469 Wells Fargo & Company (NYSE:WFC)

Roxbury Financial LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 30,469 shares of the financial services provider’s stock, valued at approximately $2,321,000. Wells Fargo & Company makes up 2.2% of Roxbury Financial LLC’s investment portfolio, making the stock its 10th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company in the third quarter worth approximately $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $30,000. Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $32,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Wells Fargo & Company in the third quarter worth approximately $34,000. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on WFC shares. Barclays lifted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Compass Point raised their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Truist Financial raised their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods raised 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. Finally, Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $79.68 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a fifty day moving average price of $74.30 and a 200 day moving average price of $65.96. Wells Fargo & Company has a fifty-two week low of $48.62 and a fifty-two week high of $81.50. The firm has a market cap of $265.29 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $20.58 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Wells Fargo & 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.