20,039 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 20,039 shares of the financial services provider’s stock, valued at approximately $1,408,000.

Other large investors have also modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at $26,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. Rakuten Securities Inc. boosted its stake in shares of Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after buying an additional 237 shares during the period. Finally, Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth about $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 1.2 %

WFC opened at $62.36 on Monday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market cap of $203.62 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The business’s fifty day moving average is $72.83 and its two-hundred day moving average is $70.97.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same period in the previous year, the firm earned $1.20 EPS. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the subject of several analyst reports. Morgan Stanley upped their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, April 7th. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Thursday, March 13th. Truist Financial lowered their price objective on shares of Wells Fargo & Company from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $75.66.

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.