Wells Fargo & Company (NYSE:WFC) Stock Holdings Increased by PFC Capital Group Inc.

PFC Capital Group Inc. raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 56.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,550 shares of the financial services provider’s stock after buying an additional 2,000 shares during the period. PFC Capital Group Inc.’s holdings in Wells Fargo & Company were worth $389,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth $26,000. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company in the 4th quarter worth about $30,000. Rakuten Securities Inc. raised its holdings in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after buying an additional 237 shares during the period. Finally, Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WFC. Citigroup dropped 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 report on Monday, March 24th. Piper Sandler boosted 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. The Goldman Sachs Group increased their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Keefe, Bruyette & Woods upped their price target on 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. Finally, Morgan Stanley raised their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.97.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $71.85 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company’s fifty day moving average is $75.73 and its 200-day moving average is $70.29. The firm has a market cap of $234.59 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted 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. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. Equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. Wells Fargo & Company’s payout ratio is currently 29.74%.

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.