Tower Research Capital LLC TRC Has $19.06 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Tower Research Capital LLC TRC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 209.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 271,392 shares of the financial services provider’s stock after purchasing an additional 183,728 shares during the period. Tower Research Capital LLC TRC’s holdings in Wells Fargo & Company were worth $19,063,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $26,000. Investment Counsel Co. of Nevada bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $28,000. Rakuten Securities Inc. lifted its holdings 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 valued at $30,000 after buying an additional 237 shares during the period. Modus Advisors LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth about $30,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Bank of America dropped their price target on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. cut their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Phillip Securities upgraded shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, April 14th. Piper Sandler reduced their target price on Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley upped their price target on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, April 7th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $75.34.

Wells Fargo & Company Stock Up 1.0 %

WFC opened at $64.63 on Friday. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The company’s 50-day moving average price is $71.23 and its two-hundred day moving average price is $71.16. The stock has a market cap of $211.02 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 1.18 and a beta of 1.02. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. During the same quarter in the previous year, the firm earned $1.20 EPS. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. As a group, equities 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. Investors 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 2.48%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 28.73%.

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.