Saxon Interests Inc. Purchases Shares of 4,838 Wells Fargo & Company (NYSE:WFC)

Saxon Interests Inc. acquired a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 4,838 shares of the financial services provider’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Fortis Group Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at $25,000. Studio Investment Management LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $28,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Wells Fargo & Company during the first quarter valued at $28,000. Baystate Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 53.0% during the third quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 278 shares during the last quarter. Finally, Impact Partnership Wealth LLC purchased a new stake in shares of Wells Fargo & Company during the third quarter valued at $34,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock traded up $0.35 during midday trading on Thursday, hitting $57.96. 14,546,593 shares of the company were exchanged, compared to its average volume of 19,147,393. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $205.20 billion, a P/E ratio of 12.02, a PEG ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a 52 week low of $36.27 and a 52 week high of $58.44. The firm has a 50 day simple moving average of $53.00 and a 200-day simple moving average of $47.01.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.30). The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.30 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. Wells Fargo & Company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.67 EPS. Research analysts forecast that Wells Fargo & Company will post 4.72 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.05%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WFC. Compass Point increased their price objective on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a research note on Thursday, January 18th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday. Robert W. Baird reissued a “neutral” rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a research note on Monday, January 8th. Finally, Piper Sandler cut their price target on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $55.85.

Wells Fargo & Company 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.