Abner Herrman & Brock LLC Boosts Position in Wells Fargo & Company (NYSE:WFC)

Abner Herrman & Brock LLC increased its holdings in Wells Fargo & Company (NYSE:WFC) by 102.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 283,124 shares of the financial services provider’s stock after buying an additional 143,174 shares during the period. Wells Fargo & Company comprises about 2.5% of Abner Herrman & Brock LLC’s holdings, making the stock its 17th largest position. Abner Herrman & Brock LLC’s holdings in Wells Fargo & Company were worth $19,887,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in WFC. Horst & Graben Wealth Management LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at $201,000. CENTRAL TRUST Co grew its holdings in Wells Fargo & Company by 4.5% in the 4th quarter. CENTRAL TRUST Co now owns 41,962 shares of the financial services provider’s stock valued at $2,947,000 after buying an additional 1,814 shares during the period. McAdam LLC increased its stake in shares of Wells Fargo & Company by 10.6% during the 4th quarter. McAdam LLC now owns 6,223 shares of the financial services provider’s stock valued at $437,000 after acquiring an additional 596 shares during the last quarter. Pacific Sage Partners LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth about $230,000. Finally, Jacobsen Capital Management grew its holdings in Wells Fargo & Company by 2.8% in the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 148 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on WFC. Barclays lifted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. The Goldman Sachs Group upped their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price target for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler increased their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Down 0.0 %

Shares of NYSE WFC opened at $78.81 on Monday. The company has a market cap of $262.40 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. The stock’s 50 day simple moving average is $73.59 and its 200 day simple moving average is $64.75. 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 $79.29.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Equities research analysts expect that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.