Everpar Advisors LLC Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Everpar Advisors LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 18,167 shares of the financial services provider’s stock, valued at approximately $894,000.

Several other hedge funds have also recently added to or reduced their stakes in WFC. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter worth approximately $25,000. Arlington Trust Co LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its position in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $32,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on WFC. Piper Sandler reduced their price target on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, January 16th. Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target for the company. in a research report on Thursday, January 18th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. lifted their price target on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Evercore ISI lifted their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC traded up $0.97 during mid-day trading on Wednesday, reaching $61.23. 18,626,876 shares of the company’s stock were exchanged, compared to its average volume of 18,897,705. The firm has a market capitalization of $213.47 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $37.18 and a 52 week high of $61.76. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a 50-day moving average price of $57.86 and a two-hundred day moving average price of $50.62.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. Analysts predict that Wells Fargo & Company will post 5.08 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.