Ritholtz Wealth Management Grows Position in Wells Fargo & Company (NYSE:WFC)

Ritholtz Wealth Management boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 13.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,089 shares of the financial services provider’s stock after purchasing an additional 7,954 shares during the quarter. Ritholtz Wealth Management’s holdings in Wells Fargo & Company were worth $4,642,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of WFC. Mattson Financial Services LLC purchased a new stake in shares of Wells Fargo & Company in the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company during the 2nd quarter worth about $26,000. Truvestments Capital LLC purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at about $29,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $30,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at about $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on WFC shares. The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. UBS Group lifted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their target price for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Truist Financial boosted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Piper Sandler upped their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.17.

Wells Fargo & Company Trading Down 0.0 %

Shares of WFC stock opened at $75.94 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13. The stock has a fifty day moving average of $72.47 and a two-hundred day moving average of $63.24. The firm has a market capitalization of $252.85 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18.

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, beating 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 12.25% and a net margin of 14.43%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is 33.26%.

About Wells Fargo & Company

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.