4,183 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by Professional Financial Advisors LLC

Professional Financial Advisors LLC acquired a new position in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, Holdings Channel reports. The firm acquired 4,183 shares of the financial services provider’s stock, valued at approximately $206,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Kathmere Capital Management LLC lifted its holdings in shares of Wells Fargo & Company by 19.5% in the 3rd quarter. Kathmere Capital Management LLC now owns 7,248 shares of the financial services provider’s stock valued at $296,000 after purchasing an additional 1,185 shares during the last quarter. Stoneridge Investment Partners LLC lifted its holdings in shares of Wells Fargo & Company by 410.5% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock valued at $2,757,000 after purchasing an additional 54,262 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $4,967,000. United Services Automobile Association lifted its holdings in shares of Wells Fargo & Company by 13.7% in the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock valued at $4,000,000 after purchasing an additional 11,825 shares during the last quarter. Finally, Synovus Financial Corp lifted its holdings in shares of Wells Fargo & Company by 61.7% in the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after purchasing an additional 46,525 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

WFC traded up $0.38 during trading hours on Thursday, hitting $57.99. 3,287,090 shares of the stock were exchanged, compared to its average volume of 18,954,689. Wells Fargo & Company has a 12 month low of $36.27 and a 12 month high of $58.44. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $205.31 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The stock has a 50-day simple moving average of $52.78 and a 200-day simple moving average of $46.94.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.30). The firm had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.30 billion. Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 EPS. Analysts anticipate that Wells Fargo & Company will post 4.72 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.05%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WFC shares. The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $54.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. HSBC upped their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $51.00 target price on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Finally, Piper Sandler dropped their price target on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.85.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.