Wells Fargo & Company (NYSE:WFC) Stock Holdings Boosted by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 18.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,687 shares of the financial services provider’s stock after purchasing an additional 6,284 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Wells Fargo & Company were worth $2,858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WFC. TFB Advisors LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $214,000. Capital Advisors Inc. OK acquired a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $223,000. Certuity LLC raised its stake in Wells Fargo & Company by 1.9% during the 4th quarter. Certuity LLC now owns 312,620 shares of the financial services provider’s stock valued at $21,958,000 after acquiring an additional 5,709 shares in the last quarter. TCV Trust & Wealth Management Inc. bought a new stake in Wells Fargo & Company during the 4th quarter valued at $244,000. Finally, Sonata Capital Group Inc. acquired a new position in Wells Fargo & Company during the 4th quarter worth $219,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WFC shares. Barclays raised their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Truist Financial raised their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Morgan Stanley upped their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Trading Down 0.5 %

NYSE:WFC opened at $79.22 on Thursday. The stock has a fifty day simple moving average of $74.08 and a 200 day simple moving average of $65.78. The firm has a market capitalization of $263.76 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $47.59 and a 1-year high of $81.50. 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 announced its 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed 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. This represents a $1.60 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

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.