Capstone Financial Advisors Inc. Invests $227,000 in Wells Fargo & Company (NYSE:WFC)

Capstone Financial Advisors Inc. bought a new position in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, Holdings Channel.com reports. The firm bought 3,227 shares of the financial services provider’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Empowered Funds LLC boosted its position in shares of Wells Fargo & Company by 19.1% in the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock worth $13,369,000 after buying an additional 30,510 shares during the period. Valmark Advisers Inc. boosted its holdings in Wells Fargo & Company by 5.5% in the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock valued at $583,000 after purchasing an additional 431 shares during the last quarter. NatWest Group plc boosted its holdings in Wells Fargo & Company by 57.7% in the fourth quarter. NatWest Group plc now owns 172,484 shares of the financial services provider’s stock valued at $12,115,000 after purchasing an additional 63,102 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $1,656,000. Finally, Modera Wealth Management LLC boosted its holdings in Wells Fargo & Company by 14.1% in the fourth quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider’s stock valued at $1,444,000 after purchasing an additional 2,548 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WFC. JPMorgan Chase & Co. reduced their price target on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Piper Sandler reduced their price target on Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Barclays reduced their price target on Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Citigroup reduced their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Finally, Truist Financial reduced their target price on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $75.34.

Wells Fargo & Company Stock Up 0.2 %

Wells Fargo & Company stock opened at $69.72 on Monday. The company has a 50-day simple moving average of $70.01 and a 200-day simple moving average of $71.62. The firm has a market capitalization of $227.65 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.18 and a beta of 1.02. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. The business had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 earnings per share. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.29%. Wells Fargo & Company’s dividend payout ratio is currently 28.73%.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.