Regent Peak Wealth Advisors LLC Purchases Shares of 5,477 Wells Fargo & Company $WFC

Regent Peak Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,477 shares of the financial services provider’s stock, valued at approximately $459,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt increased its position in Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after purchasing an additional 949,735,001 shares in the last quarter. Vanguard Group Inc. grew its stake in Wells Fargo & Company by 0.4% during the second quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock worth $24,203,688,000 after buying an additional 1,341,222 shares during the period. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the second quarter worth $3,990,551,000. Massachusetts Financial Services Co. MA increased its position in shares of Wells Fargo & Company by 54.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock worth $1,332,851,000 after acquiring an additional 5,894,747 shares in the last quarter. Finally, Amundi raised its stake in shares of Wells Fargo & Company by 18.2% in the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after acquiring an additional 2,180,693 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WFC shares. TD Cowen upped their price target on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. Truist Financial boosted their price objective on Wells Fargo & Company from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. UBS Group dropped their target price on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Finally, Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $92.04.

Wells Fargo & Company Stock Up 0.9%

Shares of NYSE WFC opened at $95.28 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $95.85. The stock’s 50-day simple moving average is $87.68 and its 200-day simple moving average is $82.85. The firm has a market cap of $299.09 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.99 and a beta of 1.11.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same quarter in the prior year, the business posted $1.42 earnings per share. Wells Fargo & Company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is 29.61%.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.