Field & Main Bank Purchases 368 Shares of Wells Fargo & Company (NYSE:WFC)

Field & Main Bank boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,250 shares of the financial services provider’s stock after acquiring an additional 368 shares during the period. Field & Main Bank’s holdings in Wells Fargo & Company were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Magnolia Capital Advisors LLC bought a new position in Wells Fargo & Company in the second quarter valued at about $343,000. Quarry LP bought a new stake in Wells Fargo & Company during the second quarter valued at $105,000. Advisory Alpha LLC grew its stake in Wells Fargo & Company by 5.2% during the second quarter. Advisory Alpha LLC now owns 5,490 shares of the financial services provider’s stock worth $326,000 after purchasing an additional 270 shares during the period. 3Chopt Investment Partners LLC lifted its position in shares of Wells Fargo & Company by 2.4% during the 2nd quarter. 3Chopt Investment Partners LLC now owns 45,991 shares of the financial services provider’s stock valued at $2,731,000 after acquiring an additional 1,065 shares during the period. Finally, Founders Financial Alliance LLC grew its stake in shares of Wells Fargo & Company by 5.4% in the 2nd quarter. Founders Financial Alliance LLC now owns 7,350 shares of the financial services provider’s stock valued at $437,000 after buying an additional 378 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.9 %

Shares of Wells Fargo & Company stock traded up $0.71 during trading hours on Wednesday, hitting $78.59. The company’s stock had a trading volume of 790,030 shares, compared to its average volume of 14,758,868. The business has a fifty day moving average of $73.35 and a 200 day moving average of $64.38. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $78.59. 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 company has a market capitalization of $261.66 billion, a PE ratio of 14.67, a P/E/G ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the firm posted $0.86 EPS. The firm’s revenue was down .5% compared to the same quarter last year. As a group, equities analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.04%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Morgan Stanley lifted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI boosted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler raised their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods raised 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 report on Thursday, January 16th. Finally, Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research note on Tuesday, October 8th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.39.

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.