BetterWealth LLC Makes New Investment in Wells Fargo & Company (NYSE:WFC)

BetterWealth LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,318 shares of the financial services provider’s stock, valued at approximately $233,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mayflower Financial Advisors LLC boosted its holdings in Wells Fargo & Company by 3.2% in the fourth quarter. Mayflower Financial Advisors LLC now owns 5,486 shares of the financial services provider’s stock valued at $385,000 after purchasing an additional 170 shares in the last quarter. Denver Wealth Management Inc. lifted its position in shares of Wells Fargo & Company by 4.4% during the 4th quarter. Denver Wealth Management Inc. now owns 5,547 shares of the financial services provider’s stock worth $390,000 after buying an additional 234 shares during the last quarter. BSW Wealth Partners acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $230,000. Stonegate Investment Group LLC grew its position in shares of Wells Fargo & Company by 1.3% in the 4th quarter. Stonegate Investment Group LLC now owns 46,036 shares of the financial services provider’s stock valued at $3,234,000 after buying an additional 603 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its stake in Wells Fargo & Company by 2.0% during the 4th quarter. Perigon Wealth Management LLC now owns 197,187 shares of the financial services provider’s stock worth $14,976,000 after acquiring an additional 3,880 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Shares of WFC opened at $77.99 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock’s 50 day moving average is $73.26 and its two-hundred day moving average is $64.23. Wells Fargo & Company has a twelve month low of $47.45 and a twelve month high of $78.30. The firm has a market capitalization of $259.66 billion, a PE ratio of 14.50, a P/E/G ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the firm earned $0.86 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. Research analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.05%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WFC. Truist Financial upped their price objective 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. Piper Sandler boosted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Citigroup raised their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Keefe, Bruyette & Woods boosted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Finally, Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research report on Tuesday, October 8th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.39.

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.