Arcadia Investment Management Corp MI Buys 221 Shares of Wells Fargo & Company (NYSE:WFC)

Arcadia Investment Management Corp MI boosted its stake in Wells Fargo & Company (NYSE:WFC) by 22.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,221 shares of the financial services provider’s stock after purchasing an additional 221 shares during the period. Arcadia Investment Management Corp MI’s holdings in Wells Fargo & Company were worth $86,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company during the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the 4th quarter worth $30,000. Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $32,000. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Wells Fargo & Company during the third quarter valued at about $34,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock opened at $77.43 on Friday. 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 firm has a 50 day moving average price of $75.20 and a 200-day moving average price of $66.90. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The firm has a market capitalization of $257.81 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.20 and a beta of 1.18.

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

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WFC shares. Truist Financial raised their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. UBS Group increased their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Citigroup boosted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group raised their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Compass Point boosted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.