Buckley Wealth Management LLC Purchases New Stake in Wells Fargo & Company (NYSE:WFC)

Buckley Wealth Management LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,000 shares of the financial services provider’s stock, valued at approximately $211,000.

A number of other large investors have also added to or reduced their stakes in WFC. Nations Financial Group Inc. IA ADV increased its position in Wells Fargo & Company by 6.7% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,115 shares of the financial services provider’s stock worth $232,000 after buying an additional 259 shares during the period. Cable Hill Partners LLC increased its position in Wells Fargo & Company by 20.5% during the 3rd quarter. Cable Hill Partners LLC now owns 4,298 shares of the financial services provider’s stock worth $243,000 after buying an additional 732 shares during the period. Zions Bancorporation N.A. increased its position in Wells Fargo & Company by 4.7% during the 3rd quarter. Zions Bancorporation N.A. now owns 6,977 shares of the financial services provider’s stock worth $394,000 after buying an additional 311 shares during the period. Ferguson Wellman Capital Management Inc. increased its position in Wells Fargo & Company by 9.6% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 32,021 shares of the financial services provider’s stock worth $1,809,000 after buying an additional 2,800 shares during the period. Finally, CIBC Asset Management Inc increased its position in Wells Fargo & Company by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 579,985 shares of the financial services provider’s stock worth $32,763,000 after buying an additional 20,053 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Citigroup increased their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Piper Sandler increased their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Morgan Stanley raised their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Thursday. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.39.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $70.96 on Friday. The stock has a market cap of $233.31 billion, a PE ratio of 13.19, 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. The business’s 50-day moving average price is $75.89 and its two-hundred day moving average price is $68.84. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50.

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

Wells Fargo & Company Announces Dividend

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

About Wells Fargo & Company

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.