Spring Capital Management LLC Purchases Shares of 4,128 Wells Fargo & Company (NYSE:WFC)

Spring Capital Management LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,128 shares of the financial services provider’s stock, valued at approximately $290,000.

Several other hedge funds have also modified their holdings of WFC. Mattson Financial Services LLC purchased a new position in Wells Fargo & Company during the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth $26,000. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth $29,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at $30,000. Finally, Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the topic of several research analyst reports. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Tuesday, October 8th. Piper Sandler lifted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday. Citigroup lifted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Compass Point increased their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $72.17.

Wells Fargo & Company Trading Up 1.7 %

WFC opened at $77.22 on Friday. Wells Fargo & Company has a 12-month low of $46.12 and a 12-month high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $257.11 billion, a PE ratio of 16.05, a P/E/G ratio of 1.39 and a beta of 1.18. The firm’s fifty day moving average price is $72.60 and its 200 day moving average price is $63.33.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business 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 14.43% and a return on equity of 12.25%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 EPS. As a group, research analysts expect that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.