10,680 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by North Forty Two & Co.

North Forty Two & Co. bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,680 shares of the financial services provider’s stock, valued at approximately $750,000.

A number of other large investors have also bought and sold shares of WFC. Rialto Wealth Management LLC bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $26,000. Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $30,000. Finally, Rakuten Securities Inc. increased its stake in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Up 0.3 %

WFC opened at $71.08 on Wednesday. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The stock’s fifty day simple moving average is $75.86 and its 200 day simple moving average is $69.19. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a market cap of $233.72 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share 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 business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the business earned $0.86 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upped their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. The Goldman Sachs Group upped their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Barclays upped their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Thursday, March 13th. Finally, Piper Sandler upped 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. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $74.39.

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.