Gallagher Capital Advisors LLC Invests $404,000 in Wells Fargo & Company (NYSE:WFC)

Gallagher Capital Advisors LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 5,754 shares of the financial services provider’s stock, valued at approximately $404,000.

Several other large investors have also recently bought and sold shares of WFC. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the 4th quarter valued at $30,000. Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company in the 4th quarter valued at $32,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Wells Fargo & Company during the 4th quarter worth $35,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Down 2.3 %

NYSE:WFC opened at $71.01 on Monday. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market cap of $233.50 billion, a PE ratio of 13.20, a P/E/G ratio of 1.18 and a beta of 1.16. The firm’s 50 day simple moving average is $76.10 and its 200 day simple moving average is $68.59.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating 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 business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the business posted $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. UBS Group lifted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Truist Financial increased their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Citigroup lifted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Barclays boosted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $73.39.

About Wells Fargo & Company

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.