Wealthspire Advisors LLC Buys 25,448 Shares of Wells Fargo & Company (NYSE:WFC)

Wealthspire Advisors LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 165.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,810 shares of the financial services provider’s stock after purchasing an additional 25,448 shares during the period. Wealthspire Advisors LLC’s holdings in Wells Fargo & Company were worth $2,009,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Park Avenue Securities LLC lifted its position in shares of Wells Fargo & Company by 7.0% in the third quarter. Park Avenue Securities LLC now owns 57,221 shares of the financial services provider’s stock valued at $2,338,000 after buying an additional 3,721 shares during the last quarter. Gratus Capital LLC lifted its holdings in Wells Fargo & Company by 58.2% during the 3rd quarter. Gratus Capital LLC now owns 8,778 shares of the financial services provider’s stock valued at $359,000 after purchasing an additional 3,229 shares during the last quarter. TIAA Trust National Association bought a new position in Wells Fargo & Company during the third quarter worth $4,282,000. Dubuque Bank & Trust Co increased its holdings in shares of Wells Fargo & Company by 0.9% in the third quarter. Dubuque Bank & Trust Co now owns 47,788 shares of the financial services provider’s stock valued at $1,953,000 after purchasing an additional 417 shares during the last quarter. Finally, Portside Wealth Group LLC raised its position in shares of Wells Fargo & Company by 93.8% in the third quarter. Portside Wealth Group LLC now owns 79,209 shares of the financial services provider’s stock valued at $3,242,000 after purchasing an additional 38,347 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

NYSE:WFC traded up $0.07 during trading hours on Thursday, hitting $61.30. The company’s stock had a trading volume of 14,223,917 shares, compared to its average volume of 18,845,982. Wells Fargo & Company has a twelve month low of $37.18 and a twelve month high of $61.76. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a fifty day simple moving average of $57.99 and a 200-day simple moving average of $50.70. The company has a market capitalization of $213.71 billion, a P/E ratio of 12.79, a PEG ratio of 1.16 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $1.23 EPS. On average, analysts anticipate that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.28%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Analyst Ratings Changes

A number of brokerages recently commented on WFC. Argus upped their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Evercore ISI increased their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. HSBC boosted their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Piper Sandler lowered their price objective on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 16th. Finally, Raymond James boosted their target price on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $58.99.

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.