Waycross Partners LLC Raises Holdings in Wells Fargo & Company (NYSE:WFC)

Waycross Partners LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 327,618 shares of the financial services provider’s stock after acquiring an additional 12,128 shares during the period. Wells Fargo & Company accounts for approximately 3.0% of Waycross Partners LLC’s investment portfolio, making the stock its 10th biggest holding. Waycross Partners LLC’s holdings in Wells Fargo & Company were worth $23,012,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Spinnaker Trust boosted its holdings in Wells Fargo & Company by 1.8% in the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 130 shares during the last quarter. Jacobsen Capital Management lifted its holdings in shares of Wells Fargo & Company by 2.8% during the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after buying an additional 148 shares during the period. New Republic Capital LLC lifted its holdings in shares of Wells Fargo & Company by 2.9% during the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock valued at $369,000 after buying an additional 149 shares during the period. Quad Cities Investment Group LLC boosted its stake in shares of Wells Fargo & Company by 0.3% in the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after buying an additional 158 shares during the last quarter. Finally, Investors Research Corp grew its holdings in shares of Wells Fargo & Company by 1.2% in the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after acquiring an additional 160 shares during the period. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Piper Sandler increased their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup boosted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods raised their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, UBS Group boosted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Up 1.1 %

Shares of WFC opened at $79.68 on Tuesday. Wells Fargo & Company has a 52-week low of $48.62 and a 52-week high of $81.50. The stock has a market cap of $265.29 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. The firm’s fifty day moving average is $74.41 and its two-hundred day moving average is $66.19. 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 (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. 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 given a $0.40 dividend. The ex-dividend date of this dividend 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%.

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.