Tradewinds LLC. Makes New Investment in Wells Fargo & Company $WFC

Tradewinds LLC. acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the third quarter, Holdings Channel reports. The institutional investor acquired 8,637 shares of the financial services provider’s stock, valued at approximately $724,000.

Several other hedge funds have also recently made changes to their positions in WFC. Whelan Financial purchased a new position in Wells Fargo & Company in the 3rd quarter worth $281,000. Courier Capital LLC increased its holdings in shares of Wells Fargo & Company by 53.4% in the third quarter. Courier Capital LLC now owns 29,074 shares of the financial services provider’s stock valued at $2,437,000 after purchasing an additional 10,127 shares during the period. Auour Investments LLC purchased a new position in shares of Wells Fargo & Company in the third quarter worth about $202,000. Mizuho Markets Americas LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth about $20,117,000. Finally, Allstate Corp lifted its holdings in shares of Wells Fargo & Company by 1,753.3% during the third quarter. Allstate Corp now owns 117,609 shares of the financial services provider’s stock worth $9,858,000 after purchasing an additional 111,263 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

WFC opened at $88.36 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84. The firm has a fifty day moving average price of $90.17 and a 200 day moving average price of $84.85. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $97.76. The stock has a market cap of $277.37 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.81 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.66 by $0.10. The company had revenue of $21.29 billion for the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $1.43 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.0%. Wells Fargo & Company’s dividend payout ratio is presently 28.71%.

Analyst Upgrades and Downgrades

WFC has been the topic of several research reports. Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Robert W. Baird reiterated an “underperform” rating and issued a $90.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, January 6th. Bank of America raised their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Truist Financial decreased their target price on shares of Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Thirteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $94.87.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.