Denver Wealth Management Inc. Grows Holdings in Wells Fargo & Company (NYSE:WFC)

Denver Wealth Management Inc. grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.4% in the fourth quarter, Holdings Channel reports. The firm owned 5,547 shares of the financial services provider’s stock after acquiring an additional 234 shares during the period. Denver Wealth Management Inc.’s holdings in Wells Fargo & Company were worth $390,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WFC. Quad Cities Investment Group LLC increased its position in shares of Wells Fargo & Company by 0.3% during the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after acquiring an additional 158 shares during the period. Investors Research Corp raised its position in Wells Fargo & Company by 1.2% during the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 160 shares in the last quarter. Ellenbecker Investment Group lifted its holdings in shares of Wells Fargo & Company by 3.9% in the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after buying an additional 164 shares during the period. Income Research & Management purchased a new position in shares of Wells Fargo & Company during the third quarter valued at $211,000. Finally, Modera Wealth Management LLC raised its holdings in shares of Wells Fargo & Company by 0.9% in the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 167 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

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

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The company 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%. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. Research analysts predict that Wells Fargo & Company will post 5.84 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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Ratings Changes

A number of research firms have commented on WFC. Compass Point raised their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Piper Sandler increased their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Morgan Stanley boosted their price target 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. Finally, Wolfe Research upgraded 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 note on Tuesday, October 8th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company 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.