St. Louis Financial Planners Asset Management LLC Buys New Shares in Wells Fargo & Company (NYSE:WFC)

St. Louis Financial Planners Asset Management LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 26,413 shares of the financial services provider’s stock, valued at approximately $1,855,000. Wells Fargo & Company accounts for about 1.3% of St. Louis Financial Planners Asset Management LLC’s holdings, making the stock its 18th biggest position.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Quad Cities Investment Group LLC grew its stake in Wells Fargo & Company by 0.3% during the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after buying an additional 158 shares during the last quarter. Investors Research Corp increased its holdings in Wells Fargo & Company by 1.2% during the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 160 shares in the last quarter. Ellenbecker Investment Group grew its holdings in shares of Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 164 shares during the last quarter. Income Research & Management acquired a new position in Wells Fargo & Company during the 3rd quarter worth about $211,000. Finally, Modera Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 0.9% in the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 167 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WFC. UBS Group raised their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Compass Point increased their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Truist Financial initiated coverage on Wells Fargo & Company in a report on Tuesday, January 7th. They issued a “buy” rating and a $82.00 price objective for the company. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Tuesday, October 8th. Finally, Barclays lifted their price objective on shares of Wells Fargo & Company from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.92.

Wells Fargo & Company Trading Up 6.6 %

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

Wells Fargo & Company (NYSE:WFC) last issued its earnings results 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 return on equity of 12.25% and a net margin of 14.43%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts predict that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

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 issued a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. Wells Fargo & Company’s payout ratio is presently 33.26%.

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.