Western Financial Corp CA Has $6.75 Million Stake in Wells Fargo & Company (NYSE:WFC)

Western Financial Corp CA raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,067 shares of the financial services provider’s stock after acquiring an additional 1,032 shares during the period. Wells Fargo & Company makes up about 3.7% of Western Financial Corp CA’s investment portfolio, making the stock its 3rd largest position. Western Financial Corp CA’s holdings in Wells Fargo & Company were worth $6,748,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company during the second quarter worth about $26,000. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company during the 3rd quarter worth $29,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $30,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $32,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $78.81 on Friday. The business has a fifty day moving average of $73.59 and a 200 day moving average of $64.72. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $47.45 and a one year high of $79.29. The firm has a market capitalization of $262.40 billion, a P/E ratio of 14.65, a PEG ratio of 1.18 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, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

Analysts Set New Price Targets

A number of research firms have weighed in on WFC. Truist Financial raised their price objective 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. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a report on Tuesday, October 8th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a research note on Monday, October 14th. Finally, Morgan Stanley raised their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.