Saxon Interests Inc. acquired a new position in Wells Fargo & Company (NYSE:WFC – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 4,838 shares of the financial services provider’s stock, valued at approximately $238,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Fortis Group Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at $25,000. Studio Investment Management LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company during the first quarter valued at $28,000. Baystate Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 53.0% during the third quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 278 shares during the last quarter. Finally, Impact Partnership Wealth LLC purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at $34,000. 75.90% of the stock is currently owned by institutional investors.
Wells Fargo & Company Price Performance
Shares of Wells Fargo & Company stock traded up $0.35 during midday trading on Thursday, hitting $57.96. 14,546,593 shares of the company were exchanged, compared to its average volume of 19,147,393. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $205.20 billion, a P/E ratio of 12.02, a PEG ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a 52 week low of $36.27 and a 52 week high of $58.44. The firm has a 50 day simple moving average of $53.00 and a 200-day simple moving average of $47.01.
Wells Fargo & Company Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.05%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on WFC. Compass Point increased their price objective on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a research note on Thursday, January 18th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday. Robert W. Baird reissued a “neutral” rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a research note on Monday, January 8th. Finally, Piper Sandler cut their price target on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $55.85.
Check Out Our Latest Research Report on WFC
Wells Fargo & Company Company Profile
Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
Featured Articles
- Five stocks we like better than Wells Fargo & Company
- What is a buyback in stocks? A comprehensive guide for investors
- 3 Value Stocks Too Small For Buffett’s Portfolio
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- Foot Locker Builds Up Another Head of Steam; Gains Imminent
- How to Know Which Cryptocurrency to Buy: A Guide for Investors
- Disney Stock Catches 3 Upgrades In a Single Week
Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.