Prentice Wealth Management LLC Purchases 422 Shares of Wells Fargo & Company (NYSE:WFC)

Prentice Wealth Management LLC raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,426 shares of the financial services provider’s stock after acquiring an additional 422 shares during the period. Prentice Wealth Management LLC’s holdings in Wells Fargo & Company were worth $662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of WFC. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth $30,000. Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $35,000. Finally, Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company during the third quarter valued at about $29,000. 75.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WFC has been the subject of several analyst reports. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Piper Sandler increased their price objective 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. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Truist Financial raised their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Down 1.5 %

WFC opened at $77.43 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The stock has a market cap of $257.81 billion, a PE ratio of 14.39, a PEG ratio of 1.18 and a beta of 1.18. The business has a 50 day moving average of $75.20 and a 200-day moving average of $66.90.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS 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 analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 earnings per share. Equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, February 7th. 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.