Quadrant Private Wealth Management LLC Acquires 460 Shares of Wells Fargo & Company (NYSE:WFC)

Quadrant Private Wealth Management LLC boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,880 shares of the financial services provider’s stock after buying an additional 460 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Wells Fargo & Company were worth $694,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. PICTET BANK & TRUST Ltd increased its position in Wells Fargo & Company by 4.2% in the 4th quarter. PICTET BANK & TRUST Ltd now owns 38,025 shares of the financial services provider’s stock worth $2,671,000 after buying an additional 1,525 shares during the period. Klingenstein Fields & Co. LP grew its holdings in shares of Wells Fargo & Company by 5.8% during the 4th quarter. Klingenstein Fields & Co. LP now owns 5,108 shares of the financial services provider’s stock worth $359,000 after purchasing an additional 278 shares in the last quarter. Asset Planning Inc acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $208,000. Banque Pictet & Cie SA grew its holdings in shares of Wells Fargo & Company by 8.5% during the 4th quarter. Banque Pictet & Cie SA now owns 1,452,996 shares of the financial services provider’s stock worth $102,058,000 after purchasing an additional 113,439 shares in the last quarter. Finally, Root Financial Partners LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $228,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $79.68 on Friday. The firm has a market cap of $265.29 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $48.62 and a 52 week high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The business’s fifty day moving average is $74.30 and its two-hundred day moving average is $65.96.

Wells Fargo & Company (NYSE:WFC) last released 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. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 earnings per share. Equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 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 yield of 2.01%. Wells Fargo & Company’s payout ratio is 29.74%.

Analysts Set New Price Targets

Several analysts have recently weighed in on WFC shares. Evercore ISI lifted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Morgan Stanley boosted their price target 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, Piper Sandler boosted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $73.39.

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.