Wells Fargo & Company (NYSE:WFC) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 3.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 45,135 shares of the financial services provider’s stock after buying an additional 1,426 shares during the quarter. Ritholtz Wealth Management’s holdings in Wells Fargo & Company were worth $2,222,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Fortis Group Advisors LLC acquired a new stake in Wells Fargo & Company during the 3rd quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. grew its holdings in Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 356,620 shares in the last quarter. Studio Investment Management LLC acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company during the 1st quarter valued at $28,000. Finally, Baystate Wealth Management LLC grew its holdings in Wells Fargo & Company by 53.0% during the 3rd quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 278 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Odeon Capital Group lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target for the company. in a report on Thursday, January 18th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $51.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Compass Point increased their price objective on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Citigroup reiterated a “neutral” rating and set a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Finally, Piper Sandler reduced their price objective on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Twelve investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $55.85.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded up $0.35 during midday trading on Thursday, reaching $57.96. The company’s stock had a trading volume of 14,546,593 shares, compared to its average volume of 19,147,393. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average price of $53.00 and a 200 day moving average price of $47.01. Wells Fargo & Company has a one year low of $36.27 and a one year high of $58.44. The company has a market cap of $205.20 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.30 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts expect that Wells Fargo & Company will post 4.72 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.42%. Wells Fargo & Company’s dividend payout ratio is currently 29.05%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.