TCV Trust & Wealth Management Inc. Makes New $244,000 Investment in Wells Fargo & Company (NYSE:WFC)

TCV Trust & Wealth Management Inc. purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,476 shares of the financial services provider’s stock, valued at approximately $244,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sonata Capital Group Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth $219,000. Sather Financial Group Inc boosted its stake in shares of Wells Fargo & Company by 153.8% during the 4th quarter. Sather Financial Group Inc now owns 23,983 shares of the financial services provider’s stock worth $1,685,000 after acquiring an additional 14,532 shares in the last quarter. Leavell Investment Management Inc. boosted its stake in shares of Wells Fargo & Company by 8.4% during the 4th quarter. Leavell Investment Management Inc. now owns 23,132 shares of the financial services provider’s stock worth $1,625,000 after acquiring an additional 1,790 shares in the last quarter. Portfolio Design Labs LLC increased its holdings in shares of Wells Fargo & Company by 21.0% during the 4th quarter. Portfolio Design Labs LLC now owns 68,158 shares of the financial services provider’s stock valued at $4,787,000 after acquiring an additional 11,844 shares during the last quarter. Finally, New Republic Capital LLC raised its stake in shares of Wells Fargo & Company by 2.9% in the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 149 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.7 %

WFC opened at $79.66 on Wednesday. The company has a market capitalization of $265.23 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.22 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm’s fifty day moving average price is $73.97 and its two-hundred day moving average price is $65.64. Wells Fargo & Company has a fifty-two week low of $47.59 and a fifty-two 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 for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for 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 firm’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 EPS. On average, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders 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 annualized dividend and a dividend yield of 2.01%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Evercore ISI upped their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. UBS Group upped their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Truist Financial lifted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods raised their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.