Tempus Wealth Planning LLC Acquires New Holdings in Wells Fargo & Company (NYSE:WFC)

Tempus Wealth Planning LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,291 shares of the financial services provider’s stock, valued at approximately $231,000.

Other institutional investors also recently modified their holdings of the company. Income Research & Management acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at about $211,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Wells Fargo & Company in the 4th quarter worth approximately $35,000. Finally, Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company during the third quarter worth approximately $29,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $79.56 on Wednesday. Wells Fargo & Company has a 52 week low of $47.45 and a 52 week high of $79.85. The stock has a market capitalization of $264.88 billion, a PE ratio of 14.79, a PEG ratio of 1.19 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock’s fifty day moving average is $73.61 and its 200-day moving average is $64.92.

Wells Fargo & Company (NYSE:WFC) last issued 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 net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The company’s revenue was down .5% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

WFC has been the topic of several research analyst reports. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Barclays lifted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Piper Sandler upped their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & 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.