OneAscent Financial Services LLC Raises Stock Position in Wells Fargo & Company (NYSE:WFC)

OneAscent Financial Services LLC raised its holdings in Wells Fargo & Company (NYSE:WFC) by 31.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,389 shares of the financial services provider’s stock after purchasing an additional 6,376 shares during the quarter. OneAscent Financial Services LLC’s holdings in Wells Fargo & Company were worth $1,854,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $26,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Rakuten Securities Inc. lifted its stake in shares of Wells Fargo & Company by 126.7% in 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 period. Finally, Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter valued at $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WFC has been the topic of several research analyst reports. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Thursday, March 13th. Morgan Stanley boosted their price objective 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. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. UBS Group upped their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $74.97.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $71.27 on Wednesday. The stock has a market capitalization of $232.72 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a 50-day simple moving average of $75.60 and a 200-day simple moving average of $70.42. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

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 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 during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the prior year, the company posted $0.86 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.24%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

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.