Concord Asset Management LLC VA Has $472,000 Holdings in Wells Fargo & Company (NYSE:WFC)

Concord Asset Management LLC VA increased its position in Wells Fargo & Company (NYSE:WFC) by 29.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,721 shares of the financial services provider’s stock after buying an additional 1,542 shares during the period. Concord Asset Management LLC VA’s holdings in Wells Fargo & Company were worth $472,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of WFC. Quad Cities Investment Group LLC increased its position in 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 worth $3,693,000 after acquiring an additional 158 shares during the period. Investors Research Corp raised its stake in shares of 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 valued at $760,000 after acquiring an additional 160 shares during the last quarter. Ellenbecker Investment Group boosted its stake 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 worth $250,000 after purchasing an additional 164 shares in the last quarter. Income Research & Management bought a new stake in Wells Fargo & Company during the 3rd quarter worth about $211,000. Finally, Modera Wealth Management LLC boosted its position in Wells Fargo & Company by 0.9% in the 3rd quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after buying an additional 167 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC opened at $78.81 on Friday. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $79.29. The company has a market cap of $262.40 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.18 and a beta of 1.18. 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 company’s 50 day moving average is $73.59 and its 200 day moving average is $64.72.

Wells Fargo & Company (NYSE:WFCGet Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 EPS. On average, equities research analysts predict that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Analysts Set New Price Targets

Several research analysts recently weighed in on WFC shares. Barclays lifted their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and increased their price objective for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Piper Sandler increased their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley boosted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Compass Point lifted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $73.39.

Check Out Our Latest Report on WFC

Wells Fargo & Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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