2,367 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Ethos Financial Group LLC

Ethos Financial Group LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,367 shares of the financial services provider’s stock, valued at approximately $166,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Washington Trust Advisors Inc. increased its holdings in shares of Wells Fargo & Company by 2.5% in the fourth quarter. Washington Trust Advisors Inc. now owns 6,987 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 169 shares during the last quarter. Inceptionr LLC increased its holdings in shares of Wells Fargo & Company by 103.1% in the fourth quarter. Inceptionr LLC now owns 12,837 shares of the financial services provider’s stock valued at $902,000 after purchasing an additional 6,515 shares during the last quarter. Dana Investment Advisors Inc. increased its holdings in shares of Wells Fargo & Company by 2.6% in the fourth quarter. Dana Investment Advisors Inc. now owns 367,844 shares of the financial services provider’s stock valued at $25,837,000 after purchasing an additional 9,259 shares during the last quarter. Vision Financial Markets LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at $54,000. Finally, Verdence Capital Advisors LLC increased its holdings in shares of Wells Fargo & Company by 9.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 52,807 shares of the financial services provider’s stock valued at $3,709,000 after purchasing an additional 4,461 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 2.1 %

WFC opened at $72.59 on Friday. The stock has a market capitalization of $238.68 billion, a price-to-earnings ratio of 13.49, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The company has a 50-day simple moving average of $76.10 and a 200 day simple moving average of $68.31.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 earnings per share. Analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analyst Ratings Changes

WFC has been the topic of several research reports. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Truist Financial upped their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. UBS Group boosted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & 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.