Nicholas Hoffman & Company LLC. Purchases 230 Shares of Wells Fargo & Company (NYSE:WFC)

Nicholas Hoffman & Company LLC. raised its position in Wells Fargo & Company (NYSE:WFC) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,011 shares of the financial services provider’s stock after purchasing an additional 230 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Wells Fargo & Company were worth $1,967,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC increased its position in shares of Wells Fargo & Company by 8.3% during the third quarter. V Square Quantitative Management LLC now owns 3,993 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 305 shares in the last quarter. Inspire Advisors LLC bought a new stake in shares of Wells Fargo & Company during the third quarter worth $299,000. First Citizens Bank & Trust Co. increased its position in shares of Wells Fargo & Company by 1.5% during the third quarter. First Citizens Bank & Trust Co. now owns 37,977 shares of the financial services provider’s stock worth $2,145,000 after acquiring an additional 564 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its position in shares of Wells Fargo & Company by 2.5% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 29,958 shares of the financial services provider’s stock worth $1,692,000 after acquiring an additional 737 shares in the last quarter. Finally, Revolve Wealth Partners LLC increased its position in shares of Wells Fargo & Company by 7.4% during the third quarter. Revolve Wealth Partners LLC now owns 4,391 shares of the financial services provider’s stock worth $248,000 after acquiring an additional 302 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $79.68 on Monday. Wells Fargo & Company has a 52 week low of $48.62 and a 52 week high of $81.50. The firm has a market cap of $265.29 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 1.22 and a beta of 1.18. The firm’s 50-day simple moving average is $74.41 and its 200 day simple moving average is $66.15. 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 released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period last year, the firm earned $0.86 earnings per share. Wells Fargo & Company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Piper Sandler raised 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. Keefe, Bruyette & Woods raised their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. The Goldman Sachs Group raised their target price 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. Finally, UBS Group raised their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.