New Republic Capital LLC Purchases 149 Shares of Wells Fargo & Company (NYSE:WFC)

New Republic Capital LLC raised its holdings in Wells Fargo & Company (NYSE:WFC) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,249 shares of the financial services provider’s stock after purchasing an additional 149 shares during the period. New Republic Capital LLC’s holdings in Wells Fargo & Company were worth $369,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Exchange Traded Concepts LLC boosted its holdings in shares of Wells Fargo & Company by 11.7% in the third quarter. Exchange Traded Concepts LLC now owns 161,174 shares of the financial services provider’s stock worth $9,105,000 after acquiring an additional 16,819 shares during the period. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Wells Fargo & Company by 31.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 6,202 shares of the financial services provider’s stock worth $350,000 after buying an additional 1,493 shares in the last quarter. Polianta Ltd bought a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $1,118,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Wells Fargo & Company by 133.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,495 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 2,000 shares during the period. Finally, Accelerate Investment Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at about $236,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $79.05 on Tuesday. Wells Fargo & Company has a one year low of $47.59 and a one year high of $81.50. The firm has a market capitalization of $263.21 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. The company has a 50-day simple moving average of $73.89 and a two-hundred day simple moving average of $65.51. 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 (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 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 firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.02%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WFC shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Keefe, Bruyette & Woods upped their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price target for the company from $60.83 to $65.00 in a research report on Tuesday, October 15th. Barclays upped their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Piper Sandler raised their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average 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.