Vest Financial LLC Raises Stock Position in Wells Fargo & Company (NYSE:WFC)

Vest Financial LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 6.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,709 shares of the financial services provider’s stock after acquiring an additional 916 shares during the quarter. Vest Financial LLC’s holdings in Wells Fargo & Company were worth $1,103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WFC. Ritholtz Wealth Management grew its holdings in Wells Fargo & Company by 9.1% during the 3rd quarter. Ritholtz Wealth Management now owns 58,135 shares of the financial services provider’s stock valued at $3,284,000 after purchasing an additional 4,848 shares in the last quarter. Cardinal Capital Management Inc. grew its stake in shares of Wells Fargo & Company by 2.0% during the third quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock valued at $32,505,000 after acquiring an additional 11,037 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Wells Fargo & Company by 11.7% during the third quarter. Exchange Traded Concepts LLC now owns 161,174 shares of the financial services provider’s stock worth $9,105,000 after acquiring an additional 16,819 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its stake in shares of Wells Fargo & Company by 31.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 6,202 shares of the financial services provider’s stock worth $350,000 after acquiring an additional 1,493 shares in the last quarter. Finally, Polianta Ltd purchased a new position in Wells Fargo & Company in the third quarter valued at about $1,118,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WFC has been the topic of a number of recent analyst reports. Morgan Stanley upped their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Compass Point upped their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Truist Financial boosted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Piper Sandler increased their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $80.76 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $268.89 billion, a PE ratio of 15.01, a P/E/G ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $47.47 and a 1-year high of $81.50. The business’s fifty day moving average price is $73.89 and its two-hundred day moving average price is $65.47.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. On average, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.98%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

About Wells Fargo & Company

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.