AJOVista LLC Invests $173,000 in Wells Fargo & Company (NYSE:WFC)

AJOVista LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,509 shares of the financial services provider’s stock, valued at approximately $173,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. Fortis Group Advisors LLC purchased a new position in shares of Wells Fargo & Company during the third quarter worth about $25,000. Arlington Trust Co LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. raised its position in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after buying an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth $29,000. Finally, Wetzel Investment Advisors Inc. bought a new position in Wells Fargo & Company in the fourth quarter valued at $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

NYSE:WFC traded up $0.11 during mid-day trading on Friday, reaching $59.94. The company’s stock had a trading volume of 17,298,461 shares, compared to its average volume of 19,706,676. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock has a market cap of $212.21 billion, a P/E ratio of 12.51, a PEG ratio of 1.16 and a beta of 1.18. The firm’s fifty day moving average price is $57.63 and its two-hundred day moving average price is $50.23. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.76.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data 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. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts forecast that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Evercore ISI increased their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Robert W. Baird reissued a “neutral” rating and issued a $55.00 price target on shares of Wells Fargo & Company in a research note on Monday, January 8th. JPMorgan Chase & Co. lifted their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Piper Sandler dropped their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, January 16th. Fourteen research 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.99.

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.