Accurate Wealth Management LLC Acquires Shares of 8,317 Wells Fargo & Company (NYSE:WFC)

Accurate Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, Holdings Channel.com reports. The fund purchased 8,317 shares of the financial services provider’s stock, valued at approximately $582,000.

A number of other large investors also recently made changes to their positions in WFC. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company during the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company during the second quarter worth about $26,000. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company during the third quarter worth about $29,000. Modus Advisors LLC purchased a new stake in Wells Fargo & Company during the fourth quarter worth about $30,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Wells Fargo & Company during the third quarter worth about $34,000. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on WFC shares. Truist Financial started coverage on shares of Wells Fargo & Company in a report on Tuesday, January 7th. They set a “buy” rating and a $82.00 price objective for the company. Keefe, Bruyette & Woods lifted their target price on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Tuesday, October 8th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $69.92.

Wells Fargo & Company Trading Up 6.6 %

Shares of Wells Fargo & Company stock opened at $75.86 on Thursday. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13. The firm has a market cap of $252.58 billion, a PE ratio of 15.77, a PEG ratio of 1.47 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50 day simple moving average of $72.41 and a two-hundred day simple moving average of $63.15.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share 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 analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. Analysts expect that Wells Fargo & Company will post 5.43 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. Wells Fargo & Company’s payout ratio is 33.26%.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.