Whipplewood Advisors LLC Acquires New Position in Wells Fargo & Company (NYSE:WFC)

Whipplewood Advisors LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 804 shares of the financial services provider’s stock, valued at approximately $56,000.

A number of other hedge funds also recently made changes to their positions in the stock. Spinnaker Trust raised its stake in shares of Wells Fargo & Company by 1.8% in the fourth quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 130 shares during the last quarter. MONECO Advisors LLC raised its stake in shares of 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 worth $493,000 after purchasing an additional 134 shares during the last quarter. Jacobsen Capital Management raised its stake in shares of 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 worth $381,000 after purchasing an additional 148 shares during the last quarter. New Republic Capital LLC raised its stake 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 purchasing an additional 149 shares during the last quarter. Finally, Black Diamond Financial LLC raised its stake in shares of Wells Fargo & Company by 3.2% in the fourth quarter. Black Diamond Financial LLC now owns 4,814 shares of the financial services provider’s stock worth $338,000 after purchasing an additional 151 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 2.3 %

Wells Fargo & Company stock opened at $78.35 on Friday. The stock has a market capitalization of $260.87 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The business has a 50 day simple moving average of $75.87 and a 200-day simple moving average of $67.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates 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 was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. On average, analysts anticipate 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

WFC has been the subject of several research analyst reports. Barclays raised their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. UBS Group lifted their price target 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. Piper Sandler lifted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Citigroup lifted their price target on 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, Truist Financial lifted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently 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.