Regal Investment Advisors LLC Acquires New Stake in Wells Fargo & Company (NYSE:WFC)

Regal Investment Advisors LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,079 shares of the financial services provider’s stock, valued at approximately $286,000.

Other large investors have also modified their holdings of the company. Empowered Funds LLC lifted its position in Wells Fargo & Company by 19.1% during the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock worth $13,369,000 after buying an additional 30,510 shares in the last quarter. Valmark Advisers Inc. raised its holdings in shares of Wells Fargo & Company by 5.5% during the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock worth $583,000 after acquiring an additional 431 shares during the period. NatWest Group plc boosted its position in shares of Wells Fargo & Company by 57.7% during the 4th quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock valued at $12,115,000 after acquiring an additional 63,102 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $1,656,000. Finally, Modera Wealth Management LLC grew its holdings in shares of Wells Fargo & Company by 14.1% in the fourth quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider’s stock valued at $1,444,000 after purchasing an additional 2,548 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WFC shares. Citigroup reduced their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Keefe, Bruyette & Woods lifted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Raymond James lowered their price objective on Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating for the company in a research report on Monday. Piper Sandler reduced their target price on Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Barclays lowered their price target on Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Monday. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.34.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $64.63 on Friday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $211.02 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The business’s fifty day moving average price is $71.53 and its 200 day moving average price is $70.98.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.16. The business had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the company earned $1.20 EPS. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.73%.

About Wells Fargo & Company

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.