New Age Alpha Advisors LLC Takes Position in Wells Fargo & Company (NYSE:WFC)

New Age Alpha Advisors LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 65,905 shares of the financial services provider’s stock, valued at approximately $4,629,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. Rialto Wealth Management LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $26,000. Truvestments Capital LLC purchased a new position in Wells Fargo & Company in the third quarter worth $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the fourth quarter worth $30,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company in the 4th quarter valued at $30,000. Finally, Rakuten Securities Inc. increased its position in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 2.2 %

Shares of WFC opened at $70.71 on Friday. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The stock has a market cap of $230.87 billion, a PE ratio of 13.14, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The business’s 50-day moving average price is $75.84 and its 200-day moving average price is $69.92.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the firm posted $0.86 EPS. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.26%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Analysts Set New Price Targets

WFC has been the topic of a number of research analyst reports. UBS Group boosted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Piper Sandler boosted their target price 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. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. 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 note on Thursday, January 16th. Finally, Truist Financial raised their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $74.97.

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.