Fidelis Capital Partners LLC Acquires 7,979 Shares of Wells Fargo & Company (NYSE:WFC)

Fidelis Capital Partners LLC lifted its stake in Wells Fargo & Company (NYSE:WFC) by 32.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 32,464 shares of the financial services provider’s stock after purchasing an additional 7,979 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Wells Fargo & Company were worth $2,280,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WFC. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth about $32,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Wells Fargo & Company during the third quarter worth about $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 2.3 %

WFC opened at $78.35 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company’s 50 day moving average price is $75.87 and its two-hundred day moving average price is $67.96. The firm has a market capitalization of $257.63 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.18 and a beta of 1.18.

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 for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. As a group, research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. Wells Fargo & Company’s payout ratio is 29.74%.

Analysts Set New Price Targets

WFC has been the subject of several analyst reports. Truist Financial boosted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Compass Point raised their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Barclays boosted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & 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.