Procyon Advisors LLC Has $466,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

Procyon Advisors LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,639 shares of the financial services provider’s stock after buying an additional 454 shares during the quarter. Procyon Advisors LLC’s holdings in Wells Fargo & Company were worth $466,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Quad Cities Investment Group LLC boosted its holdings in Wells Fargo & Company by 0.3% in 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 purchasing an additional 158 shares during the last quarter. Investors Research Corp lifted its holdings in shares of Wells Fargo & Company by 1.2% in the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock valued at $760,000 after buying an additional 160 shares during the period. Ellenbecker Investment Group lifted its holdings in shares of Wells Fargo & Company by 3.9% in the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after buying an additional 164 shares during the period. Income Research & Management acquired a new stake in Wells Fargo & Company during the third quarter worth about $211,000. Finally, Modera Wealth Management LLC raised its position in Wells Fargo & Company by 0.9% during the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 167 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $77.22 on Friday. The business’s 50 day moving average price is $72.74 and its 200 day moving average price is $63.44. The company has a market cap of $257.11 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, research analysts predict that Wells Fargo & Company will post 5.45 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Wall Street Analyst Weigh In

Several research firms have commented on WFC. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Tuesday, October 8th. Evercore ISI raised their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial raised their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley upped their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.