137,361 Shares in Wells Fargo & Company (NYSE:WFC) Bought by L & S Advisors Inc

L & S Advisors Inc bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 137,361 shares of the financial services provider’s stock, valued at approximately $9,648,000. Wells Fargo & Company makes up approximately 1.1% of L & S Advisors Inc’s holdings, making the stock its 23rd largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MV Capital Management Inc. boosted its stake in Wells Fargo & Company by 2.0% in the 4th quarter. MV Capital Management Inc. now owns 18,220 shares of the financial services provider’s stock worth $1,280,000 after purchasing an additional 355 shares in the last quarter. Allianz SE acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $12,194,000. Michael A. Dubis Financial Planning LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $456,000. OneAscent Wealth Management LLC raised its stake in Wells Fargo & Company by 1.9% in the 4th quarter. OneAscent Wealth Management LLC now owns 8,623 shares of the financial services provider’s stock worth $606,000 after acquiring an additional 161 shares during the last quarter. Finally, Allstate Corp purchased a new position in Wells Fargo & Company in the 4th quarter worth $7,135,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WFC. Barclays increased their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Citigroup cut their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Truist Financial upped their price objective 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. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Morgan Stanley lifted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.97.

Wells Fargo & Company Stock Down 2.2 %

WFC stock opened at $70.71 on Friday. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a 50 day moving average price of $75.84 and a two-hundred day moving average price of $69.92. 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 has a market capitalization of $230.87 billion, a P/E ratio of 13.14, a PEG ratio of 1.18 and a beta of 1.16.

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 the consensus estimate 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 company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the previous year, the company earned $0.86 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

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.