Fifth Third Wealth Advisors LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 7.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,301 shares of the financial services provider’s stock after purchasing an additional 3,520 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $3,463,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. R.H. Investment Group LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth $5,056,000. Pines Wealth Management LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $473,000. SeaCrest Wealth Management LLC increased its position in shares of Wells Fargo & Company by 18.0% in the fourth quarter. SeaCrest Wealth Management LLC now owns 21,621 shares of the financial services provider’s stock valued at $1,519,000 after acquiring an additional 3,305 shares during the period. Accurate Wealth Management LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $582,000. Finally, Sovereign Financial Group Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $210,000. Institutional investors own 75.90% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. Compass Point increased their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Barclays lifted their price target on shares of Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup raised their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods boosted their price target on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the company a “market perform” rating in a research report on Tuesday, December 3rd. Finally, Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research note on Tuesday, October 8th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $69.92.
Wells Fargo & Company Stock Performance
Shares of WFC opened at $71.07 on Wednesday. The business has a 50-day simple moving average of $72.41 and a two-hundred day simple moving average of $63.15. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13. The stock has a market cap of $236.63 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.47 and a beta of 1.18.
Wells Fargo & Company Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.
Wells Fargo & 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.
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