Xponance Inc. Buys 30,874 Shares of Wells Fargo & Company (NYSE:WFC)

Xponance Inc. boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 547,922 shares of the financial services provider’s stock after buying an additional 30,874 shares during the quarter. Xponance Inc.’s holdings in Wells Fargo & Company were worth $26,969,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in WFC. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company during the third quarter worth about $25,000. Arlington Trust Co LLC purchased a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. raised its stake in shares of Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares in the last quarter. Studio Investment Management LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $28,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company during the first quarter worth approximately $28,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on WFC. Piper Sandler decreased their price target 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. Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target on the stock. in a research note on Thursday, January 18th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $51.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, January 9th. Jefferies Financial Group lifted their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Raymond James lifted their target price on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 16th. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Stock Up 2.7 %

Shares of WFC stock traded up $1.56 during mid-day trading on Thursday, reaching $58.74. 24,419,770 shares of the company’s stock traded hands, compared to its average volume of 18,721,676. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $59.13. The company has a market cap of $207.96 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.10 and a beta of 1.19. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The company’s 50-day moving average price is $55.42 and its 200-day moving average price is $48.61.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.23 EPS. On average, equities analysts expect that Wells Fargo & Company will post 5.04 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.38%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

About Wells Fargo & Company

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.