Forza Wealth Management LLC Takes $222,000 Position in Wells Fargo & Company (NYSE:WFC)

Forza Wealth Management LLC bought a new stake 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 institutional investor bought 3,164 shares of the financial services provider’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company in the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company during the second quarter worth $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company during the third quarter valued at $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $30,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Insider Transactions at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Ather Williams III sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $63.70, for a total transaction of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. This represents a 26.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

WFC has been the topic of several research analyst reports. 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 research note on Wednesday, October 30th. Compass Point raised their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley reduced their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Piper Sandler lifted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price objective on shares of Wells Fargo & Company in a report on Monday, October 14th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.92.

Wells Fargo & Company Stock Up 0.3 %

Shares of NYSE:WFC traded up $0.23 during trading on Monday, hitting $70.19. 5,582,188 shares of the company’s stock traded hands, compared to its average volume of 11,828,047. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average price of $72.13 and a 200-day moving average price of $62.97. Wells Fargo & Company has a 52 week low of $46.12 and a 52 week high of $78.13. The company has a market cap of $233.70 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted $1.39 earnings per share. As a group, research analysts forecast that Wells Fargo & Company will post 5.43 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.28%. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

About Wells Fargo & Company

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.