Howard Bailey Securities LLC Buys 1,082 Shares of Wells Fargo & Company (NYSE:WFC)

Howard Bailey Securities LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 12.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 9,454 shares of the financial services provider’s stock after purchasing an additional 1,082 shares during the quarter. Howard Bailey Securities LLC’s holdings in Wells Fargo & Company were worth $664,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of WFC. Jacobsen Capital Management grew its holdings in Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 148 shares during the last quarter. New Republic Capital LLC increased its stake in shares of Wells Fargo & Company by 2.9% during the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock valued at $369,000 after buying an additional 149 shares during the period. Quad Cities Investment Group LLC raised its holdings in shares of Wells Fargo & Company by 0.3% during the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock valued at $3,693,000 after acquiring an additional 158 shares in the last quarter. Investors Research Corp lifted its stake in Wells Fargo & Company by 1.2% in the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after acquiring an additional 160 shares during the period. Finally, Ellenbecker Investment Group boosted its holdings in Wells Fargo & Company by 3.9% in the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 164 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 0.5 %

Shares of WFC stock opened at $79.22 on Thursday. 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 $263.76 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $47.59 and a 12-month high of $81.50. The stock’s 50-day moving average price is $74.08 and its 200-day moving average price is $65.78.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating 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 firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the firm earned $0.86 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Analyst Ratings Changes

Several brokerages have commented on WFC. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Truist Financial upped their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Citigroup upped their target price 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. Finally, Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus 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.