Millstone Evans Group LLC Takes Position in Wells Fargo & Company (NYSE:WFC)

Millstone Evans Group LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, Holdings Channel reports. The firm acquired 1,346 shares of the financial services provider’s stock, valued at approximately $95,000.

Other hedge funds have also made changes to their positions in the company. Empowered Funds LLC increased its stake in shares of Wells Fargo & Company by 19.1% during the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock valued at $13,369,000 after acquiring an additional 30,510 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Wells Fargo & Company by 37.2% during the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock valued at $36,055,000 after acquiring an additional 173,083 shares during the period. Atlantic Union Bankshares Corp increased its stake in shares of Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after acquiring an additional 26,320 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Wells Fargo & Company by 14.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider’s stock valued at $58,055,000 after acquiring an additional 131,322 shares during the period. Finally, Valmark Advisers Inc. increased its stake in shares of Wells Fargo & Company by 5.5% during the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock valued at $583,000 after acquiring an additional 431 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on WFC. Compass Point lifted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price target on shares of 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. Barclays lifted their price target 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. Finally, Truist Financial lifted their price target 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. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average price target of $74.39.

Wells Fargo & Company Trading Down 0.0 %

Wells Fargo & Company stock opened at $72.51 on Friday. The company’s fifty day simple moving average is $75.95 and its 200-day simple moving average is $69.42. 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 12 month low of $50.15 and a 12 month high of $81.50. The stock has a market cap of $238.43 billion, a P/E ratio of 13.48, a P/E/G 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 EPS 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 for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the previous year, the company posted $0.86 EPS. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

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.