Paragon Capital Management Ltd Purchases Shares of 3,256 Wells Fargo & Company (NYSE:WFC)

Paragon Capital Management Ltd purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,256 shares of the financial services provider’s stock, valued at approximately $229,000.

Several other hedge funds have also modified their holdings of the company. West Financial Advisors LLC lifted its position in shares of Wells Fargo & Company by 7.2% during the fourth quarter. West Financial Advisors LLC now owns 3,101 shares of the financial services provider’s stock valued at $218,000 after buying an additional 209 shares during the last quarter. Winch Advisory Services LLC raised its position in shares of Wells Fargo & Company by 50.0% in the 4th quarter. Winch Advisory Services LLC now owns 2,744 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 915 shares during the last quarter. Rovin Capital UT ADV purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $228,000. Connective Portfolio Management LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $632,000. Finally, USA Financial Formulas purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $805,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $75.86 on Thursday. The company has a market cap of $252.58 billion, a P/E ratio of 15.77, a P/E/G ratio of 1.39 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a 50-day moving average of $72.41 and a two-hundred day moving average of $63.15. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, analysts anticipate that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Wall Street Analyst Weigh In

WFC has been the subject of several research analyst reports. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price objective for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Piper Sandler raised their price objective 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. Compass Point raised 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 note on Tuesday, December 10th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Tuesday, October 8th. Finally, Evercore ISI lifted their price target 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. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.92.

About Wells Fargo & Company

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.