Seven Mile Advisory Purchases 430 Shares of Wells Fargo & Company (NYSE:WFC)

Seven Mile Advisory grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.9% in the 4th quarter, HoldingsChannel reports. The firm owned 6,636 shares of the financial services provider’s stock after acquiring an additional 430 shares during the quarter. Seven Mile Advisory’s holdings in Wells Fargo & Company were worth $466,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of WFC. Norges Bank bought a new stake in Wells Fargo & Company in the 4th quarter worth approximately $3,365,658,000. Two Sigma Advisers LP boosted its stake in shares of Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after purchasing an additional 5,237,500 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in Wells Fargo & Company in the 4th quarter worth $117,026,000. KLP Kapitalforvaltning AS bought a new stake in Wells Fargo & Company in the fourth quarter worth $85,031,000. Finally, Korea Investment CORP boosted its position in Wells Fargo & Company by 53.9% during the fourth quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider’s stock valued at $230,865,000 after buying an additional 1,150,443 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $70.71 on Monday. The business’s fifty day moving average is $75.84 and its 200 day moving average is $70.14. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock has a market cap of $230.87 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the firm earned $0.86 EPS. The company’s revenue was down .5% compared to the same quarter last year. Research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analyst Weigh In

WFC has been the topic of several analyst reports. Morgan Stanley lifted their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. UBS Group boosted their price objective 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. Keefe, Bruyette & Woods raised their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a 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 note on Thursday, January 16th. Finally, Piper Sandler increased their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.97.

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.