Fortress Financial Group LLC Takes $440,000 Position in Wells Fargo & Company (NYSE:WFC)

Fortress Financial Group LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 6,261 shares of the financial services provider’s stock, valued at approximately $440,000.

Other hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $32,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Wells Fargo & Company during the 3rd quarter worth about $34,000. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WFC has been the topic of several research analyst reports. Truist Financial increased their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Barclays lifted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. The Goldman Sachs Group upped their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Citigroup lifted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, 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 research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Trading Up 0.2 %

Shares of WFC stock opened at $76.61 on Friday. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The stock’s fifty day moving average price is $75.71 and its two-hundred day moving average price is $67.57. 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 cap of $255.06 billion, a PE ratio of 14.24, a P/E/G ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its earnings results 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. The firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 earnings per share. Equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal 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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is 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.