Wells Fargo & Company (NYSE:WFC) Shares Bought by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 32.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,029 shares of the financial services provider’s stock after purchasing an additional 34,494 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Wells Fargo & Company were worth $9,836,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Callan Family Office LLC raised its holdings in shares of Wells Fargo & Company by 1,388.2% in the 4th quarter. Callan Family Office LLC now owns 98,339 shares of the financial services provider’s stock valued at $6,907,000 after purchasing an additional 91,731 shares in the last quarter. Hartford Funds Management Co LLC grew its position in Wells Fargo & Company by 9.9% during the 4th quarter. Hartford Funds Management Co LLC now owns 23,066 shares of the financial services provider’s stock worth $1,620,000 after purchasing an additional 2,082 shares during the last quarter. Welch & Forbes LLC grew its position in Wells Fargo & Company by 0.4% during the 4th quarter. Welch & Forbes LLC now owns 46,363 shares of the financial services provider’s stock worth $3,257,000 after purchasing an additional 199 shares during the last quarter. E Fund Management Co. Ltd. grew its position in Wells Fargo & Company by 56.5% during the 4th quarter. E Fund Management Co. Ltd. now owns 37,271 shares of the financial services provider’s stock worth $2,618,000 after purchasing an additional 13,451 shares during the last quarter. Finally, Ethos Financial Group LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth $166,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $72.59 on Friday. The firm has a market capitalization of $238.68 billion, a P/E ratio of 13.49, a PEG ratio of 1.18 and a beta of 1.16. The firm has a fifty day moving average of $76.10 and a 200-day moving average of $68.31. 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 has a 52-week low of $50.15 and a 52-week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts predict 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 was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. Wells Fargo & Company’s payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Barclays lifted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Truist Financial lifted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Piper Sandler lifted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, UBS Group lifted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Company Profile

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.