CoreFirst Bank & Trust Buys New Shares in Wells Fargo & Company (NYSE:WFC)

CoreFirst Bank & Trust purchased a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,925 shares of the financial services provider’s stock, valued at approximately $346,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $26,000. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter worth approximately $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at $30,000. Finally, Rakuten Securities Inc. lifted its position in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $74.28 on Tuesday. The business’s 50-day simple moving average is $76.03 and its 200 day simple moving average is $69.62. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock has a market cap of $244.25 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. 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. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Thursday, March 13th. Piper Sandler upped their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Barclays increased their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Truist Financial upped their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.18.

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.