Hardy Reed LLC Has $391,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Hardy Reed LLC lifted its stake in Wells Fargo & Company (NYSE:WFC) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,564 shares of the financial services provider’s stock after acquiring an additional 215 shares during the quarter. Hardy Reed LLC’s holdings in Wells Fargo & Company were worth $391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of WFC. Two Sigma Advisers LP increased its stake in shares of Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after acquiring an additional 5,237,500 shares during the last quarter. Canoe Financial LP bought a new stake in Wells Fargo & Company in the third quarter worth $160,529,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Wells Fargo & Company by 158.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after purchasing an additional 1,659,716 shares in the last quarter. Artemis Investment Management LLP boosted its holdings in Wells Fargo & Company by 410.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after purchasing an additional 1,105,679 shares in the last quarter. Finally, National Pension Service boosted its holdings in Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after purchasing an additional 897,195 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 0.5 %

NYSE WFC opened at $80.38 on Thursday. 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 firm has a 50-day simple moving average of $74.90 and a 200 day simple moving average of $66.64. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The stock has a market cap of $267.63 billion, a PE ratio of 14.94, a PEG ratio of 1.21 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the company earned $0.86 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. On average, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is presently 29.74%.

Analysts Set New Price Targets

WFC has been the subject of a number of recent research reports. Citigroup upped their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. UBS Group upped their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Barclays upped their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company 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.