New Jersey Better Educational Savings Trust Makes New $239,000 Investment in Wells Fargo & Company (NYSE:WFC)

New Jersey Better Educational Savings Trust bought a new position in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,398 shares of the financial services provider’s stock, valued at approximately $239,000. Wells Fargo & Company comprises about 0.5% of New Jersey Better Educational Savings Trust’s investment portfolio, making the stock its 23rd largest position.

Several other institutional investors and hedge funds have also made changes to their positions in WFC. V Square Quantitative Management LLC boosted its holdings in shares of Wells Fargo & Company by 8.3% in the third quarter. V Square Quantitative Management LLC now owns 3,993 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 305 shares in the last quarter. Inspire Advisors LLC bought a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $299,000. First Citizens Bank & Trust Co. boosted its holdings in shares of Wells Fargo & Company by 1.5% in the third quarter. First Citizens Bank & Trust Co. now owns 37,977 shares of the financial services provider’s stock valued at $2,145,000 after acquiring an additional 564 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of Wells Fargo & Company by 2.5% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 29,958 shares of the financial services provider’s stock valued at $1,692,000 after acquiring an additional 737 shares in the last quarter. Finally, Revolve Wealth Partners LLC boosted its holdings in shares of Wells Fargo & Company by 7.4% in the third quarter. Revolve Wealth Partners LLC now owns 4,391 shares of the financial services provider’s stock valued at $248,000 after acquiring an additional 302 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Piper Sandler increased their target price 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. Keefe, Bruyette & Woods increased their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Barclays increased their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Evercore ISI increased their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Up 1.1 %

Wells Fargo & Company stock opened at $79.68 on Monday. The firm has a market cap of $265.29 billion, a PE ratio of 14.81, a P/E/G ratio of 1.22 and a beta of 1.18. 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’s 50 day moving average price is $74.41 and its two-hundred day moving average price is $66.15. Wells Fargo & Company has a twelve month low of $48.62 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data 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 firm had revenue of $20.38 billion for 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 company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 EPS. On average, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.01%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

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.