Ashton Thomas Securities LLC Purchases 562 Shares of Wells Fargo & Company (NYSE:WFC)

Ashton Thomas Securities LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 18.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,678 shares of the financial services provider’s stock after buying an additional 562 shares during the quarter. Ashton Thomas Securities LLC’s holdings in Wells Fargo & Company were worth $258,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth $26,000. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth $29,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at about $30,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company in the fourth quarter valued at about $30,000. Finally, Rakuten Securities Inc. raised its stake in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $74.27 on Wednesday. The company has a market cap of $244.21 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The firm has a 50 day moving average of $76.09 and a 200-day moving average of $69.76. 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 (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

Analysts Set New Price Targets

A number of research firms recently issued reports on WFC. Compass Point upped their price objective 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. Citigroup cut their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday. Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Thursday, March 13th. Finally, The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

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.