BBR Partners LLC Has $1.23 Million Stake in Wells Fargo & Company (NYSE:WFC)

BBR Partners LLC boosted its stake in Wells Fargo & Company (NYSE:WFC) by 0.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,568 shares of the financial services provider’s stock after buying an additional 163 shares during the quarter. BBR Partners LLC’s holdings in Wells Fargo & Company were worth $1,234,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Modus Advisors LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at $30,000. Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at $35,000. Finally, BankPlus Trust Department purchased a new stake in Wells Fargo & Company in the 4th quarter valued at $35,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 2.1 %

WFC stock opened at $72.59 on Friday. 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 capitalization of $238.68 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The stock has a fifty day moving average of $76.10 and a 200-day moving average of $68.31.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the company earned $0.86 EPS. The firm’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.20%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analyst Ratings Changes

A number of equities research analysts recently commented on WFC shares. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Piper Sandler upped their price objective 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. Truist Financial upped their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley upped their price objective 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, Keefe, Bruyette & Woods upped their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.