21,000 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by Carlson Capital L.P.

Carlson Capital L.P. bought a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,000 shares of the financial services provider’s stock, valued at approximately $1,475,000. Wells Fargo & Company comprises approximately 0.9% of Carlson Capital L.P.’s investment portfolio, making the stock its 8th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Modus Advisors LLC purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $30,000. McClarren Financial Advisors Inc. purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $30,000. Decker Retirement Planning Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth $35,000. Finally, BankPlus Trust Department purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $76.39 on Thursday. The firm’s fifty day moving average is $75.55 and its two-hundred day moving average is $67.51. Wells Fargo & Company has a 52-week low of $50.15 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 company has a market cap of $254.34 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted 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. 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 the consensus estimate of $20.58 billion. During the same period in the previous year, the firm posted $0.86 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 EPS 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. Stockholders of record on Tuesday, January 7th will be issued 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 dividend yield of 2.09%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WFC. Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Citigroup lifted their price target 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. Piper Sandler lifted 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 note on Tuesday, December 3rd. Morgan Stanley lifted their target price on shares of 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, The Goldman Sachs Group lifted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.