Enterprise Financial Services Corp Acquires New Stake in Wells Fargo & Company (NYSE:WFC)

Enterprise Financial Services Corp acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,855 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other large investors also recently added to or reduced their stakes in WFC. Consolidated Planning Corp boosted its stake in Wells Fargo & Company by 12.9% during the third quarter. Consolidated Planning Corp now owns 4,449 shares of the financial services provider’s stock valued at $251,000 after buying an additional 507 shares during the period. Capital Performance Advisors LLP purchased a new stake in Wells Fargo & Company during the third quarter valued at about $100,000. Hollencrest Capital Management raised its position in Wells Fargo & Company by 30.2% during the third quarter. Hollencrest Capital Management now owns 1,897 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 440 shares in the last quarter. Leavell Investment Management Inc. raised its position in Wells Fargo & Company by 1.3% during the third quarter. Leavell Investment Management Inc. now owns 21,342 shares of the financial services provider’s stock valued at $1,206,000 after purchasing an additional 281 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in Wells Fargo & Company during the third quarter valued at about $2,300,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 2.3 %

NYSE:WFC opened at $71.01 on Friday. The firm has a market capitalization of $233.50 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. 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 business has a fifty day moving average price of $76.10 and a 200-day moving average price of $68.50. Wells Fargo & Company has a one year low of $50.15 and a one 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 EPS for the quarter, beating the consensus estimate 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 business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The business’s revenue was down .5% on a year-over-year basis. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WFC. Citigroup lifted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. 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 research report on Monday, December 9th. Piper Sandler boosted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Truist Financial boosted their price objective 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. Finally, Barclays boosted their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” 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 company’s stock. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $73.39.

About Wells Fargo & Company

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.