McClarren Financial Advisors Inc. Makes New Investment in Wells Fargo & Company (NYSE:WFC)

McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, Holdings Channel.com reports. The firm acquired 432 shares of the financial services provider’s stock, valued at approximately $30,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. PFG Advisors lifted its stake in Wells Fargo & Company by 3.6% in the third quarter. PFG Advisors now owns 101,761 shares of the financial services provider’s stock worth $5,748,000 after purchasing an additional 3,536 shares during the last quarter. Sunpointe LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter worth approximately $204,000. Sumitomo Life Insurance Co. lifted its stake in shares of Wells Fargo & Company by 2.4% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 43,307 shares of the financial services provider’s stock worth $2,446,000 after acquiring an additional 1,030 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Wells Fargo & Company by 106.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 48,233 shares of the financial services provider’s stock valued at $2,725,000 after acquiring an additional 24,911 shares during the period. Finally, Transform Wealth LLC boosted its holdings in Wells Fargo & Company by 117.2% during the 3rd quarter. Transform Wealth LLC now owns 228,595 shares of the financial services provider’s stock valued at $12,913,000 after acquiring an additional 123,326 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $79.22 on Thursday. The company has a market capitalization of $263.76 billion, a PE ratio of 14.72, a P/E/G ratio of 1.22 and a beta of 1.18. The company has a 50-day simple moving average of $74.08 and a two-hundred day simple moving average of $65.78. Wells Fargo & Company has a one year low of $47.59 and a one year 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.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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. 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%. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. Research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.02%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WFC shares. Piper Sandler lifted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Morgan Stanley lifted their price objective 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. Compass Point boosted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. 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 research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently 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.