Advisory Services Network LLC Boosts Stock Position in Wells Fargo & Company (NYSE:WFC)

Advisory Services Network LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,633 shares of the financial services provider’s stock after acquiring an additional 3,055 shares during the quarter. Advisory Services Network LLC’s holdings in Wells Fargo & Company were worth $7,490,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bernard Wealth Management Corp. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $70,000. Renaissance Technologies LLC raised its position in Wells Fargo & Company by 82.2% during the 4th quarter. Renaissance Technologies LLC now owns 2,253,802 shares of the financial services provider’s stock worth $158,307,000 after buying an additional 1,016,648 shares during the last quarter. FIL Ltd lifted its stake in shares of Wells Fargo & Company by 2.6% in the 4th quarter. FIL Ltd now owns 4,138,814 shares of the financial services provider’s stock worth $290,710,000 after acquiring an additional 104,136 shares during the period. Twin Capital Management Inc. lifted its stake in shares of Wells Fargo & Company by 1.3% in the 4th quarter. Twin Capital Management Inc. now owns 80,724 shares of the financial services provider’s stock worth $5,670,000 after acquiring an additional 1,072 shares during the period. Finally, Shakespeare Wealth Management LLC boosted its holdings in shares of Wells Fargo & Company by 0.9% in the fourth quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider’s stock valued at $972,000 after acquiring an additional 130 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

WFC stock opened at $61.99 on Wednesday. The stock’s 50 day moving average price is $73.97 and its 200 day moving average price is $70.69. The firm has a market cap of $202.40 billion, a P/E ratio of 11.52, a PEG ratio of 1.18 and a beta of 1.02. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The business 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 earnings per share. On average, sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.58%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analyst Ratings Changes

Several research analysts recently issued reports on WFC shares. Barclays increased their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Truist Financial cut their target price on Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating for the company in a research note on Friday, April 4th. JPMorgan Chase & Co. decreased their price target on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Piper Sandler raised Wells Fargo & Company from a “neutral” rating to an “overweight” rating and set a $77.00 price objective on the stock in a report on Tuesday. Finally, Citigroup reduced their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.66.

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.