Unison Asset Management LLC Buys 2,684 Shares of Wells Fargo & Company (NYSE:WFC)

Unison Asset Management LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,925 shares of the financial services provider’s stock after acquiring an additional 2,684 shares during the period. Wells Fargo & Company makes up approximately 3.6% of Unison Asset Management LLC’s investment portfolio, making the stock its 13th largest position. Unison Asset Management LLC’s holdings in Wells Fargo & Company were worth $7,440,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WFC. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $30,000. Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $34,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the subject of several analyst reports. UBS Group lifted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods boosted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Evercore ISI raised their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price target for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Finally, Truist Financial lifted their price objective on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $80.76 on Friday. The stock’s 50 day moving average is $73.80 and its 200 day moving average is $65.28. Wells Fargo & Company has a one year low of $47.47 and a one year high of $81.50. The firm has a market cap of $268.89 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.22 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

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 company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period in the prior year, the firm posted $0.86 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Wells Fargo & 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.