Private Advisor Group LLC Purchases 41,137 Shares of Wells Fargo & Company (NYSE:WFC)

Private Advisor Group LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 19.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 257,388 shares of the financial services provider’s stock after acquiring an additional 41,137 shares during the period. Private Advisor Group LLC’s holdings in Wells Fargo & Company were worth $12,669,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Stoneridge Investment Partners LLC raised its position in Wells Fargo & Company by 410.5% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock worth $2,757,000 after purchasing an additional 54,262 shares during the last quarter. United Services Automobile Association lifted its position in shares of Wells Fargo & Company by 13.7% during the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after buying an additional 11,825 shares in the last quarter. Synovus Financial Corp lifted its position in shares of Wells Fargo & Company by 61.7% during the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after buying an additional 46,525 shares in the last quarter. Trust Point Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $2,499,000. Finally, WealthPlan Investment Management LLC lifted its position in shares of Wells Fargo & Company by 2,174.3% during the 3rd quarter. WealthPlan Investment Management LLC now owns 21,287 shares of the financial services provider’s stock worth $870,000 after buying an additional 20,351 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

NYSE:WFC traded up $0.06 during midday trading on Tuesday, hitting $60.25. The company had a trading volume of 7,417,736 shares, compared to its average volume of 18,792,961. Wells Fargo & Company has a 52-week low of $37.18 and a 52-week high of $61.76. The stock’s fifty day moving average price is $57.75 and its 200-day moving average price is $50.48. The company has a market capitalization of $210.05 billion, a PE ratio of 12.59, a P/E/G ratio of 1.16 and a beta of 1.18. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts expect that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a $0.35 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.32%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research reports. Odeon Capital Group cut 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 report on Thursday, January 18th. Raymond James lifted their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Argus lifted their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $51.00 price target on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Finally, Piper Sandler lowered their target price on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, January 16th. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $58.99.

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.