Nicolet Bankshares Inc. Acquires 770 Shares of Wells Fargo & Company (NYSE:WFC)

Nicolet Bankshares Inc. grew its stake in Wells Fargo & Company (NYSE:WFC) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,898 shares of the financial services provider’s stock after acquiring an additional 770 shares during the period. Nicolet Bankshares Inc.’s holdings in Wells Fargo & Company were worth $1,046,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $26,000. Rakuten Securities Inc. grew its stake in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after buying an additional 237 shares in the last quarter. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $30,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, April 7th. JPMorgan Chase & Co. cut their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Truist Financial lowered their target price on Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. Bank of America reduced their price target on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Finally, Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Thursday, March 13th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.66.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $62.36 on Friday. The firm has a market capitalization of $203.62 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.18 and a beta of 1.02. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The business’s 50-day moving average price is $72.83 and its 200-day moving average price is $70.87. 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 posted its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. During the same period last year, the company earned $1.20 EPS. The firm’s revenue was down 3.4% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.57%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend 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.