Axis Wealth Partners LLC Invests $454,000 in Wells Fargo & Company (NYSE:WFC)

Axis Wealth Partners LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,467 shares of the financial services provider’s stock, valued at approximately $454,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFC. United Community Bank boosted its holdings in Wells Fargo & Company by 5.2% in the 4th quarter. United Community Bank now owns 3,718 shares of the financial services provider’s stock worth $261,000 after buying an additional 183 shares during the period. Oak Harbor Wealth Partners LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth $220,000. Atlantic Union Bankshares Corp increased its holdings in shares of Wells Fargo & Company by 10.7% in the 4th quarter. Atlantic Union Bankshares Corp now owns 196,584 shares of the financial services provider’s stock worth $13,808,000 after buying an additional 19,014 shares during the last quarter. Naviter Wealth LLC raised its position in Wells Fargo & Company by 1.9% during the fourth quarter. Naviter Wealth LLC now owns 42,506 shares of the financial services provider’s stock valued at $2,986,000 after purchasing an additional 775 shares during the period. Finally, Marble Harbor Investment Counsel LLC lifted its position in Wells Fargo & Company by 4.2% in the fourth quarter. Marble Harbor Investment Counsel LLC now owns 130,504 shares of the financial services provider’s stock worth $9,167,000 after buying an additional 5,215 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC opened at $71.01 on Friday. The company has a market cap of $233.50 billion, a P/E ratio of 13.20, a PEG 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 fifty-two week low of $50.15 and a fifty-two week high of $81.50. The firm’s 50 day moving average price is $76.10 and its 200 day moving average price is $68.50.

Wells Fargo & Company (NYSE:WFC) last issued 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. On average, research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WFC shares. Truist Financial lifted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Barclays raised their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Citigroup upped their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Compass Point lifted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.