Paradigm Asset Management Co. LLC Boosts Stock Position in Wells Fargo & Company (NYSE:WFC)

Paradigm Asset Management Co. LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 50.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,352 shares of the financial services provider’s stock after acquiring an additional 21,500 shares during the period. Wells Fargo & Company makes up approximately 1.2% of Paradigm Asset Management Co. LLC’s investment portfolio, making the stock its 5th largest holding. Paradigm Asset Management Co. LLC’s holdings in Wells Fargo & Company were worth $4,520,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Grove Street Fiduciary LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $265,000. Arcadia Investment Management Corp MI lifted its holdings in shares of Wells Fargo & Company by 22.1% in the fourth quarter. Arcadia Investment Management Corp MI now owns 1,221 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 221 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $51,000. Zullo Investment Group Inc. lifted its holdings in shares of Wells Fargo & Company by 5.7% in the fourth quarter. Zullo Investment Group Inc. now owns 6,180 shares of the financial services provider’s stock valued at $434,000 after purchasing an additional 333 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its holdings in shares of Wells Fargo & Company by 8.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 45,046 shares of the financial services provider’s stock valued at $3,164,000 after purchasing an additional 3,643 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $78.69 on Friday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The stock’s 50 day moving average is $75.06 and its 200-day moving average is $66.73. 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 company has a market capitalization of $262.00 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.20 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Ratings Changes

A number of brokerages have recently commented on WFC. Truist Financial boosted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Citigroup upped their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Barclays upped their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. 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 MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.