Houlihan Financial Resource Group Ltd. Acquires Shares of 3,009 Wells Fargo & Company (NYSE:WFC)

Houlihan Financial Resource Group Ltd. bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,009 shares of the financial services provider’s stock, valued at approximately $211,000.

Other hedge funds also recently modified their holdings of the company. Two Sigma Advisers LP grew its position in 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 valued at $336,375,000 after acquiring an additional 5,237,500 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Wells Fargo & Company by 158.1% during the 3rd 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. KLP Kapitalforvaltning AS bought a new position in Wells Fargo & Company in the 4th quarter valued at approximately $85,031,000. Artemis Investment Management LLP lifted its stake in Wells Fargo & Company by 410.8% in the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after purchasing an additional 1,105,679 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in Wells Fargo & Company by 81.6% in the third quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock valued at $111,914,000 after buying an additional 889,953 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 2.4 %

Wells Fargo & Company stock opened at $74.28 on Tuesday. The firm has a market capitalization of $244.25 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The firm’s fifty day moving average price is $76.03 and its two-hundred day moving average price is $69.62. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly 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. The business 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%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 EPS. On average, equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.15%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Wall Street Analyst Weigh In

WFC has been the topic of a number of research reports. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Barclays increased their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Morgan Stanley lifted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Compass Point raised their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

Wells Fargo & Company 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.