Wells Fargo & Company (NYSE:WFC) Shares Purchased by Haverford Trust Co

Haverford Trust Co boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 54,319 shares of the financial services provider’s stock after buying an additional 754 shares during the quarter. Haverford Trust Co’s holdings in Wells Fargo & Company were worth $3,815,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Meridian Wealth Management LLC purchased a new stake in Wells Fargo & Company in the 3rd quarter valued at approximately $504,000. Nwam LLC acquired a new position in shares of Wells Fargo & Company in the third quarter worth $309,000. Great Valley Advisor Group Inc. lifted its position in shares of Wells Fargo & Company by 2.1% in the third quarter. Great Valley Advisor Group Inc. now owns 23,205 shares of the financial services provider’s stock valued at $1,311,000 after acquiring an additional 487 shares in the last quarter. Algert Global LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter valued at $3,981,000. Finally, Larson Financial Group LLC increased its position in Wells Fargo & Company by 21.8% during the 3rd quarter. Larson Financial Group LLC now owns 6,129 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 1,097 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on WFC shares. Compass Point upped their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Citigroup reduced their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Thursday, March 13th. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Piper Sandler lifted their price objective 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. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.18.

Wells Fargo & Company Trading Up 2.4 %

NYSE WFC opened at $74.28 on Tuesday. 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 firm has a market capitalization of $244.25 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.18 and a beta of 1.16. The company’s 50 day moving average price is $76.03 and its 200 day moving average price is $69.62. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data 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. The company 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 firm’s revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. On average, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors 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 2.15%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wells Fargo & 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.