Concurrent Investment Advisors LLC Boosts Holdings in Wells Fargo & Company (NYSE:WFC)

Concurrent Investment Advisors LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 8.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,046 shares of the financial services provider’s stock after buying an additional 3,643 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $3,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of WFC. RW Investment Management LLC bought a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $202,000. Hardy Reed LLC raised its position in shares of Wells Fargo & Company by 4.0% in the 4th quarter. Hardy Reed LLC now owns 5,564 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 215 shares in the last quarter. Advyzon Investment Management LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $530,000. Sunpointe LLC boosted its position in shares of Wells Fargo & Company by 31.9% during the fourth quarter. Sunpointe LLC now owns 4,758 shares of the financial services provider’s stock valued at $334,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Jessup Wealth Management Inc purchased a new stake in Wells Fargo & Company in the fourth quarter worth $224,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC opened at $78.69 on Friday. The firm has a fifty day simple moving average of $75.06 and a two-hundred day simple moving average of $66.73. The firm has a market cap of $262.00 billion, a PE ratio of 14.63, a P/E/G ratio of 1.21 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

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, beating analysts’ consensus estimates 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 company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. Wells Fargo & Company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

Analyst Ratings Changes

WFC has been the subject of several recent research reports. UBS Group raised their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research 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 stock a “neutral” rating in a research note on Tuesday, December 10th. Evercore ISI raised their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler boosted their price target 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. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average 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.