Sovereign Investment Advisors LLC Buys Shares of 13,190 Wells Fargo & Company (NYSE:WFC)

Sovereign Investment Advisors LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 13,190 shares of the financial services provider’s stock, valued at approximately $926,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $26,000. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company during the third quarter worth approximately $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $30,000. Finally, Rakuten Securities Inc. raised its holdings in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $70.96 on Friday. The company’s fifty day moving average is $75.89 and its two-hundred day moving average is $68.93. 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 12-month low of $50.15 and a 12-month high of $81.50. The company has a market cap of $233.31 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate 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 business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the previous year, the company posted $0.86 EPS. Wells Fargo & Company’s revenue was down .5% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business 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 was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

WFC has been the topic of several recent analyst reports. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Thursday. Barclays boosted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Truist Financial boosted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, Compass Point boosted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $74.39.

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.