3,587 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Beacon Financial Advisory LLC

Beacon Financial Advisory LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 3,587 shares of the financial services provider’s stock, valued at approximately $252,000.

A number of other large investors have also added to or reduced their stakes in WFC. Adero Partners LLC boosted its holdings in shares of Wells Fargo & Company by 16.1% in the 4th quarter. Adero Partners LLC now owns 42,982 shares of the financial services provider’s stock valued at $3,019,000 after buying an additional 5,974 shares in the last quarter. Bleakley Financial Group LLC lifted its position in Wells Fargo & Company by 6.6% during the fourth quarter. Bleakley Financial Group LLC now owns 72,893 shares of the financial services provider’s stock valued at $5,120,000 after acquiring an additional 4,482 shares during the last quarter. Massachusetts Wealth Management boosted its stake in Wells Fargo & Company by 3.9% in the fourth quarter. Massachusetts Wealth Management now owns 32,477 shares of the financial services provider’s stock valued at $2,281,000 after acquiring an additional 1,225 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Wells Fargo & Company by 17.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 349,566 shares of the financial services provider’s stock worth $23,326,000 after purchasing an additional 52,858 shares during the last quarter. Finally, Lockheed Martin Investment Management Co. increased its position in shares of Wells Fargo & Company by 10.8% during the fourth quarter. Lockheed Martin Investment Management Co. now owns 307,800 shares of the financial services provider’s stock worth $21,620,000 after purchasing an additional 29,900 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 1.7 %

Shares of NYSE:WFC opened at $81.45 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $81.50. The business has a 50 day moving average of $73.72 and a two-hundred day moving average of $65.16. The company has a market capitalization of $271.18 billion, a PE ratio of 15.14, a PEG ratio of 1.19 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted 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 firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. As a group, analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WFC. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research report on Monday, October 14th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Piper Sandler lifted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, UBS Group upped their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company 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.