Modera Wealth Management LLC Buys 2,548 Shares of Wells Fargo & Company (NYSE:WFC)

Modera Wealth Management LLC lifted its position in Wells Fargo & Company (NYSE:WFC) by 14.1% in the fourth quarter, Holdings Channel reports. The firm owned 20,562 shares of the financial services provider’s stock after buying an additional 2,548 shares during the period. Modera Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,444,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of WFC. SRS Capital Advisors Inc. lifted its holdings in shares of Wells Fargo & Company by 40.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 5,409 shares of the financial services provider’s stock worth $380,000 after buying an additional 1,569 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in Wells Fargo & Company in the fourth quarter worth about $110,000. Smartleaf Asset Management LLC lifted its position in shares of Wells Fargo & Company by 32.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 23,929 shares of the financial services provider’s stock worth $1,685,000 after purchasing an additional 5,878 shares during the period. Maia Wealth LLC boosted its stake in shares of Wells Fargo & Company by 17.0% during the fourth quarter. Maia Wealth LLC now owns 7,184 shares of the financial services provider’s stock valued at $560,000 after purchasing an additional 1,046 shares in the last quarter. Finally, Cape Investment Advisory Inc. increased its holdings in Wells Fargo & Company by 8.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 7,608 shares of the financial services provider’s stock valued at $534,000 after buying an additional 605 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. UBS Group upped their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays raised their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Truist Financial raised their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the 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 Stock Performance

Shares of WFC stock opened at $76.96 on Tuesday. The business has a fifty day moving average of $76.00 and a 200 day moving average of $68.11. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. 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 $253.06 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.18 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, topping the consensus estimate 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 firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 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.