Venturi Wealth Management LLC Raises Stock Position in Wells Fargo & Company (NYSE:WFC)

Venturi Wealth Management LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 166.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,388 shares of the financial services provider’s stock after purchasing an additional 4,615 shares during the period. Venturi Wealth Management LLC’s holdings in Wells Fargo & Company were worth $519,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Income Research & Management purchased a new position in Wells Fargo & Company during the third quarter valued at approximately $211,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $30,000. Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Piper Sandler boosted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Compass Point upped 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. Morgan Stanley upped their price objective on shares of 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, Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” 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 company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Down 0.5 %

Shares of NYSE WFC opened at $80.38 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The firm has a market capitalization of $267.63 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18. The firm has a fifty day simple moving average of $74.90 and a two-hundred day simple moving average of $66.64.

Wells Fargo & Company (NYSE:WFC) last released 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. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, February 7th. 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.