Allen Capital Group LLC Acquires 792 Shares of Wells Fargo & Company (NYSE:WFC)

Allen Capital Group LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 10.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,056 shares of the financial services provider’s stock after acquiring an additional 792 shares during the period. Allen Capital Group LLC’s holdings in Wells Fargo & Company were worth $566,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cardinal Capital Management Inc. increased its position in shares of Wells Fargo & Company by 2.0% during the third quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after acquiring an additional 11,037 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Wells Fargo & Company by 37.2% during the third 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 last quarter. Atlantic Union Bankshares Corp boosted its holdings in Wells Fargo & Company by 17.4% during the third 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 last quarter. Chartwell Investment Partners LLC boosted its holdings in Wells Fargo & Company by 16.4% during the third 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 last quarter. Finally, Argus Investors Counsel Inc. boosted its holdings in Wells Fargo & Company by 34.6% during the third 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 last quarter. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on WFC. Truist Financial boosted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. UBS Group upped their price target 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. The Goldman Sachs Group upped their price target on shares of 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, Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $78.41 on Thursday. Wells Fargo & Company has a 52-week low of $47.45 and a 52-week high of $78.98. The stock has a market capitalization of $261.07 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The company has a fifty day moving average of $73.35 and a 200-day moving average of $64.38. 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 announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating 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 company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The firm’s revenue was down .5% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be paid a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Wells Fargo & 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.