FourThought Financial Partners LLC Takes Position in Wells Fargo & Company (NYSE:WFC)

FourThought Financial Partners LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, Holdings Channel reports. The institutional investor bought 5,332 shares of the financial services provider’s stock, valued at approximately $375,000.

A number of other institutional investors have also modified their holdings of WFC. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at $637,000. Assenagon Asset Management S.A. increased its stake in Wells Fargo & Company by 8.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 96,400 shares of the financial services provider’s stock valued at $5,446,000 after buying an additional 7,415 shares during the period. Modera Wealth Management LLC increased its stake in Wells Fargo & Company by 0.9% in the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after buying an additional 167 shares during the period. Inscription Capital LLC increased its stake in Wells Fargo & Company by 4.5% in the 3rd quarter. Inscription Capital LLC now owns 5,635 shares of the financial services provider’s stock valued at $318,000 after buying an additional 245 shares during the period. Finally, TCI Wealth Advisors Inc. increased its stake in Wells Fargo & Company by 10.0% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 4,841 shares of the financial services provider’s stock valued at $273,000 after buying an additional 439 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Compass Point boosted 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. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Citigroup boosted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Piper Sandler boosted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods boosted 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 investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $75.95 on Wednesday. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. 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 firm’s 50-day simple moving average is $75.40 and its 200 day simple moving average is $67.44. The firm has a market capitalization of $252.87 billion, a PE ratio of 14.12, a P/E/G ratio of 1.18 and a beta of 1.18.

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

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. 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.