Portfolio Design Labs LLC Buys 11,844 Shares of Wells Fargo & Company (NYSE:WFC)

Portfolio Design Labs LLC lifted its position in Wells Fargo & Company (NYSE:WFC) by 21.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 68,158 shares of the financial services provider’s stock after purchasing an additional 11,844 shares during the period. Wells Fargo & Company comprises approximately 1.0% of Portfolio Design Labs LLC’s portfolio, making the stock its 22nd biggest holding. Portfolio Design Labs LLC’s holdings in Wells Fargo & Company were worth $4,787,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $32,000. MidAtlantic Capital Management Inc. purchased a new position in Wells Fargo & Company during the 3rd quarter valued at about $34,000. Finally, FSA Wealth Management LLC bought a new position in Wells Fargo & Company during the 3rd quarter valued at approximately $34,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of recent analyst reports. Piper Sandler boosted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Barclays boosted their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI upped their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock 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 lifted their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $79.66 on Wednesday. The business has a fifty day moving average price of $73.97 and a 200-day moving average price of $65.64. 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 company has a market capitalization of $265.23 billion, a PE ratio of 14.81, a PEG ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $47.59 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The business 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 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.01%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.