Sprinkle Financial Consultants LLC Purchases New Holdings in Wells Fargo & Company (NYSE:WFC)

Sprinkle Financial Consultants LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,473 shares of the financial services provider’s stock, valued at approximately $244,000.

A number of other hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company during the third quarter worth $29,000. Modus Advisors LLC bought a new position in Wells Fargo & Company in the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter worth about $32,000. MidAtlantic Capital Management Inc. acquired a new position in Wells Fargo & Company during the 3rd quarter valued at about $34,000. Finally, FSA Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $34,000. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WFC. Piper Sandler boosted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price target for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Finally, Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Down 0.8 %

Shares of WFC stock opened at $80.76 on Friday. Wells Fargo & Company has a 12-month low of $47.47 and a 12-month high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm has a fifty day moving average of $73.80 and a 200-day moving average of $65.28. The company has a market capitalization of $268.89 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The company’s revenue was down .5% on a year-over-year basis. As a group, equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

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.