Wells Fargo & Company (NYSE:WFC) Shares Bought by Adero Partners LLC

Adero Partners LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 16.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,982 shares of the financial services provider’s stock after buying an additional 5,974 shares during the quarter. Adero Partners LLC’s holdings in Wells Fargo & Company were worth $3,019,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Income Research & Management purchased a new position in Wells Fargo & Company during the third quarter worth $211,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $30,000. Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company during the 4th quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $35,000. Finally, Truvestments Capital LLC purchased a new position in Wells Fargo & Company in the 3rd quarter valued at about $29,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $80.07 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market cap of $266.58 billion, a PE ratio of 14.88, a P/E/G ratio of 1.19 and a beta of 1.18. The company’s fifty day simple moving average is $73.66 and its 200-day simple moving average is $65.06. Wells Fargo & Company has a 52 week low of $47.45 and a 52 week high of $80.35.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion during 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 firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price target for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Piper Sandler increased their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Morgan Stanley raised their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Company Profile

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.