Valmark Advisers Inc. Grows Stake in Wells Fargo & Company (NYSE:WFC)

Valmark Advisers Inc. increased its holdings in Wells Fargo & Company (NYSE:WFC) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,300 shares of the financial services provider’s stock after purchasing an additional 431 shares during the period. Valmark Advisers Inc.’s holdings in Wells Fargo & Company were worth $583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. V Square Quantitative Management LLC increased its holdings in Wells Fargo & Company by 8.3% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,993 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 305 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Wells Fargo & Company by 7.4% during the third quarter. Revolve Wealth Partners LLC now owns 4,391 shares of the financial services provider’s stock valued at $248,000 after purchasing an additional 302 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of Wells Fargo & Company by 5.3% in the third quarter. Resonant Capital Advisors LLC now owns 8,486 shares of the financial services provider’s stock worth $479,000 after purchasing an additional 426 shares during the last quarter. Vest Financial LLC lifted its position in shares of Wells Fargo & Company by 197.2% in the third quarter. Vest Financial LLC now owns 14,793 shares of the financial services provider’s stock worth $836,000 after buying an additional 9,816 shares in the last quarter. Finally, Robinson Value Management Ltd. boosted its stake in Wells Fargo & Company by 0.3% during the third quarter. Robinson Value Management Ltd. now owns 101,372 shares of the financial services provider’s stock valued at $5,727,000 after buying an additional 303 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

WFC opened at $79.68 on Tuesday. The business has a fifty day moving average of $74.41 and a 200 day moving average of $66.19. The stock has a market cap of $265.29 billion, a P/E ratio of 14.81, a PEG ratio of 1.22 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 52-week low of $48.62 and a 52-week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results 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. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates 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 was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 earnings per share. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business 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 dividend payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WFC. The Goldman Sachs Group upped 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. Piper Sandler upped their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Citigroup lifted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Morgan Stanley boosted 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. Finally, UBS Group increased their price target 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. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.39.

About Wells Fargo & Company

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.