Tyche Wealth Partners LLC Buys Shares of 10,252 Wells Fargo & Company (NYSE:WFC)

Tyche Wealth Partners LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, Holdings Channel reports. The firm purchased 10,252 shares of the financial services provider’s stock, valued at approximately $505,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortis Group Advisors LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth approximately $25,000. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. lifted its stake in shares of 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 worth $26,000 after buying an additional 356,620 shares during the last quarter. Studio Investment Management LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company during the first quarter worth approximately $28,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WFC has been the subject of several recent research reports. Robert W. Baird restated a “neutral” rating and issued a $55.00 price target on shares of Wells Fargo & Company in a research note on Monday, January 8th. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday. Compass Point reissued a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Finally, Piper Sandler decreased their price target on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 16th. Thirteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Trading Down 1.0 %

Shares of Wells Fargo & Company stock traded down $0.56 during trading on Wednesday, hitting $56.41. The company’s stock had a trading volume of 25,620,002 shares, compared to its average volume of 14,756,598. The stock has a market cap of $199.71 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 1.15 and a beta of 1.19. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $58.44. The stock has a 50-day moving average price of $55.25 and a two-hundred day moving average price of $48.55. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

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, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the previous year, the business earned $1.23 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post 4.86 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced 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 2.48%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

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.