Crestwood Advisors Group LLC Increases Stake in Wells Fargo & Company (NYSE:WFC)

Crestwood Advisors Group LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,277 shares of the financial services provider’s stock after acquiring an additional 3,260 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Wells Fargo & Company were worth $2,829,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Spinnaker Trust lifted its stake in shares of Wells Fargo & Company by 1.8% in the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock valued at $520,000 after purchasing an additional 130 shares during the period. MONECO Advisors LLC increased its holdings in Wells Fargo & Company by 1.9% in the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock valued at $493,000 after buying an additional 134 shares in the last quarter. Jacobsen Capital Management increased its holdings in Wells Fargo & Company by 2.8% in the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after buying an additional 148 shares in the last quarter. New Republic Capital LLC raised its position in shares of Wells Fargo & Company by 2.9% in the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock worth $369,000 after acquiring an additional 149 shares during the period. Finally, Black Diamond Financial LLC boosted its stake in shares of Wells Fargo & Company by 3.2% during the 4th quarter. Black Diamond Financial LLC now owns 4,814 shares of the financial services provider’s stock worth $338,000 after acquiring an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Piper Sandler lifted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Citigroup lifted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Down 0.5 %

Shares of NYSE:WFC opened at $77.10 on Tuesday. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The stock has a market cap of $256.72 billion, a P/E ratio of 14.33, a PEG ratio of 1.18 and a beta of 1.18. The business has a fifty day moving average of $75.30 and a two-hundred day moving average of $67.28. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. On average, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared 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 is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

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.