Impact Capital Partners LLC Purchases New Position in Wells Fargo & Company (NYSE:WFC)

Impact Capital Partners LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,716 shares of the financial services provider’s stock, valued at approximately $261,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $26,000. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company during the 3rd quarter worth $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $30,000. Finally, Rakuten Securities Inc. raised its position in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Truist Financial increased 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. Citigroup increased their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Barclays increased their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Piper Sandler raised their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.39.

Wells Fargo & Company Stock Up 3.6 %

WFC opened at $70.96 on Friday. The business’s fifty day moving average is $75.89 and its two-hundred day moving average is $68.84. 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 company has a market cap of $233.31 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the previous year, the business earned $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal 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 issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

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.