4,798 Shares in Wells Fargo & Company (NYSE:WFC) Bought by United Wealth Management LLC

United Wealth Management LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, HoldingsChannel reports. The fund acquired 4,798 shares of the financial services provider’s stock, valued at approximately $337,000. Wells Fargo & Company accounts for 0.1% of United Wealth Management LLC’s holdings, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WFC. Zions Bancorporation N.A. lifted its holdings in Wells Fargo & Company by 4.7% during the third quarter. Zions Bancorporation N.A. now owns 6,977 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 311 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Wells Fargo & Company by 3.6% during the third quarter. CIBC Asset Management Inc now owns 579,985 shares of the financial services provider’s stock worth $32,763,000 after acquiring an additional 20,053 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its holdings in Wells Fargo & Company by 5.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 21,681 shares of the financial services provider’s stock worth $1,225,000 after acquiring an additional 1,202 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Wells Fargo & Company by 13.6% in the third quarter. Empowered Funds LLC now owns 159,820 shares of the financial services provider’s stock valued at $9,028,000 after purchasing an additional 19,114 shares in the last quarter. Finally, Coastline Trust Co lifted its holdings in shares of Wells Fargo & Company by 17.1% in the third quarter. Coastline Trust Co now owns 6,172 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 900 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on WFC shares. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Thursday. Piper Sandler boosted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Compass Point boosted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley boosted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. 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 report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.39.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $70.96 on Friday. The business’s 50 day moving average price is $75.89 and its two-hundred day moving average price is $68.93. The company has a market cap of $233.31 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 earnings per share. On average, analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared 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 was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

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.