3,587 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Beacon Financial Advisory LLC

Beacon Financial Advisory LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 3,587 shares of the financial services provider’s stock, valued at approximately $252,000.

Several other hedge funds have also bought and sold shares of the stock. Dynamic Advisor Solutions LLC grew its holdings in Wells Fargo & Company by 5.8% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 35,704 shares of the financial services provider’s stock valued at $2,017,000 after buying an additional 1,965 shares in the last quarter. Abner Herrman & Brock LLC boosted its position in shares of Wells Fargo & Company by 96.1% during the 3rd quarter. Abner Herrman & Brock LLC now owns 139,950 shares of the financial services provider’s stock valued at $7,906,000 after acquiring an additional 68,600 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Wells Fargo & Company by 11.1% in the third quarter. Hexagon Capital Partners LLC now owns 17,512 shares of the financial services provider’s stock valued at $989,000 after purchasing an additional 1,748 shares in the last quarter. Sanibel Captiva Trust Company Inc. increased its position in Wells Fargo & Company by 6.0% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 14,330 shares of the financial services provider’s stock worth $810,000 after purchasing an additional 807 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. lifted its position in Wells Fargo & Company by 3.6% during the third quarter. Steigerwald Gordon & Koch Inc. now owns 337,833 shares of the financial services provider’s stock valued at $19,084,000 after purchasing an additional 11,682 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.7 %

Shares of NYSE:WFC opened at $81.45 on Friday. The business’s 50 day moving average is $73.72 and its 200 day moving average is $65.16. The stock has a market cap of $271.18 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. Wells Fargo & Company has a 52-week low of $47.45 and a 52-week high of $81.50. 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 (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $0.86 EPS. Sell-side analysts predict that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 1.96%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WFC shares. Piper Sandler boosted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley upped their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Barclays raised their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $73.39.

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.