Professional Financial Advisors LLC Purchases Shares of 4,183 Wells Fargo & Company (NYSE:WFC)

Professional Financial Advisors LLC bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,183 shares of the financial services provider’s stock, valued at approximately $206,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $2,049,693,000. Moneta Group Investment Advisors LLC grew its stake in shares of Wells Fargo & Company by 129,312.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock valued at $1,085,410,000 after buying an additional 26,267,166 shares in the last quarter. Renaissance Technologies LLC grew its position in Wells Fargo & Company by 1,478.6% in the 1st quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock valued at $406,609,000 after acquiring an additional 7,859,100 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Wells Fargo & Company in the 1st quarter valued at about $345,861,000. Finally, Imprint Wealth LLC grew its position in Wells Fargo & Company by 4,238.0% in the 2nd quarter. Imprint Wealth LLC now owns 4,284,901 shares of the financial services provider’s stock valued at $428,490,000 after acquiring an additional 4,186,124 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of research reports. HSBC upped their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday. The Goldman Sachs Group boosted their price objective on Wells Fargo & Company from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Citigroup reissued a “neutral” rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Piper Sandler reduced their price objective on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, January 16th. Finally, Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research report on Tuesday, March 19th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.85.

Wells Fargo & Company Price Performance

NYSE WFC traded up $0.38 during trading hours on Thursday, hitting $57.99. The company had a trading volume of 3,287,090 shares, compared to its average volume of 18,954,689. The firm has a 50 day simple moving average of $52.78 and a 200 day simple moving average of $46.94. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88. Wells Fargo & Company has a 52 week low of $36.27 and a 52 week high of $58.44. The firm has a market capitalization of $205.31 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 1.18 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 earnings per share (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 company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.30 billion. During the same period in the prior year, the firm posted $0.67 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 4.72 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s payout ratio is 29.05%.

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.