Kentucky Trust Co Makes New $806,000 Investment in Wells Fargo & Company (NYSE:WFC)

Kentucky Trust Co acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 11,475 shares of the financial services provider’s stock, valued at approximately $806,000.

A number of other large investors also recently bought and sold shares of the company. Empowered Funds LLC grew its stake in shares of Wells Fargo & Company by 19.1% during the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock worth $13,369,000 after purchasing an additional 30,510 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Wells Fargo & Company by 37.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock worth $36,055,000 after purchasing an additional 173,083 shares during the period. Atlantic Union Bankshares Corp grew its stake in shares of Wells Fargo & Company by 17.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock worth $10,031,000 after purchasing an additional 26,320 shares during the period. Chartwell Investment Partners LLC grew its stake in shares of Wells Fargo & Company by 16.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock worth $7,504,000 after purchasing an additional 18,717 shares during the period. Finally, Argus Investors Counsel Inc. grew its stake in shares of Wells Fargo & Company by 34.6% during the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after purchasing an additional 8,107 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.7 %

NYSE WFC opened at $79.66 on Wednesday. Wells Fargo & Company has a one year low of $47.59 and a one year high of $81.50. The company’s 50 day moving average price is $73.97 and its 200 day moving average price is $65.64. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market capitalization of $265.23 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the firm posted $0.86 earnings per share. Wells Fargo & Company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Analysts Set New Price Targets

WFC has been the topic of a number of recent analyst reports. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price target for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Piper Sandler increased their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. UBS Group increased their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Truist Financial increased their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.