Arcadia Investment Management Corp MI Purchases 221 Shares of Wells Fargo & Company (NYSE:WFC)

Arcadia Investment Management Corp MI boosted its position in Wells Fargo & Company (NYSE:WFC) by 22.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,221 shares of the financial services provider’s stock after acquiring an additional 221 shares during the period. Arcadia Investment Management Corp MI’s holdings in Wells Fargo & Company were worth $86,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WFC. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the 4th quarter valued at $30,000. Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $32,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Wells Fargo & Company during the third quarter worth $34,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

WFC opened at $77.43 on Friday. 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 has a market capitalization of $257.81 billion, a P/E ratio of 14.39, a PEG ratio of 1.20 and a beta of 1.18. The stock has a 50-day moving average price of $75.20 and a 200-day moving average price of $66.90. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $0.86 earnings per share. Equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analyst Ratings Changes

Several brokerages have recently weighed in on WFC. Truist Financial lifted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group upped their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Compass Point increased their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Barclays boosted their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley upped their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. 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, Wells Fargo & Company has an average rating of “Hold” and a consensus 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.