RD Lewis Holdings Inc. Makes New $419,000 Investment in Wells Fargo & Company (NYSE:WFC)

RD Lewis Holdings Inc. bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,968 shares of the financial services provider’s stock, valued at approximately $419,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $26,000. Rakuten Securities Inc. boosted its holdings in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after buying an additional 237 shares during the last quarter. Modus Advisors LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company during the fourth quarter worth about $30,000. Finally, Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company during the fourth quarter worth about $32,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC opened at $70.88 on Tuesday. The business has a fifty day simple moving average of $75.87 and a 200 day simple moving average of $69.11. The company has a market capitalization of $233.07 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. 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 released its earnings results 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 firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate 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 was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS. 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 was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analyst Ratings Changes

WFC has been the topic of a number of recent analyst reports. Barclays raised their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Compass Point lifted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Truist Financial lifted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $74.39.

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.