Florida Financial Advisors LLC Has $407,000 Holdings in Wells Fargo & Company (NYSE:WFC)

Florida Financial Advisors LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 28.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,797 shares of the financial services provider’s stock after buying an additional 1,294 shares during the period. Florida Financial Advisors LLC’s holdings in Wells Fargo & Company were worth $407,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Meridian Wealth Management LLC acquired a new position in Wells Fargo & Company during the third quarter valued at approximately $504,000. Nwam LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at about $309,000. Great Valley Advisor Group Inc. increased its stake in shares of Wells Fargo & Company by 2.1% in the third quarter. Great Valley Advisor Group Inc. now owns 23,205 shares of the financial services provider’s stock worth $1,311,000 after purchasing an additional 487 shares during the period. Algert Global LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $3,981,000. Finally, Larson Financial Group LLC boosted its stake in Wells Fargo & Company by 21.8% during the 3rd quarter. Larson Financial Group LLC now owns 6,129 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 1,097 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Piper Sandler increased their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Citigroup decreased their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday. Truist Financial upped their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. UBS Group lifted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Thursday, March 13th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.18.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $74.28 on Tuesday. The business has a 50-day moving average of $76.03 and a 200-day moving average of $69.62. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market capitalization of $244.25 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The business 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 firm’s revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.86 earnings per share. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.15%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 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.