Wells Fargo & Company (NYSE:WFC) Shares Acquired by PFC Capital Group Inc.

PFC Capital Group Inc. lifted its stake in Wells Fargo & Company (NYSE:WFC) by 56.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,550 shares of the financial services provider’s stock after purchasing an additional 2,000 shares during the period. PFC Capital Group Inc.’s holdings in Wells Fargo & Company were worth $389,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Rialto Wealth Management LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $26,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. Rakuten Securities Inc. grew its stake in shares of Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 237 shares in the last quarter. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of several recent research reports. Citigroup cut their price target on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Truist Financial increased their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Bank of America lowered their target price on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley set a $79.00 price objective on shares of Wells Fargo & Company in a research note on Monday, March 24th. Finally, Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Thursday, March 13th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.55.

Wells Fargo & Company Stock Down 7.5 %

Shares of NYSE:WFC traded down $5.39 during trading on Thursday, reaching $66.87. 13,140,653 shares of the stock traded hands, compared to its average volume of 17,093,658. 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 stock has a market cap of $218.34 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The stock has a 50-day moving average of $75.50 and a two-hundred day moving average of $70.43.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share 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 the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.39%. Wells Fargo & Company’s dividend payout ratio is currently 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.