Wells Fargo & Company (NYSE:WFC) Shares Bought by Signet Financial Management LLC

Signet Financial Management LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,916 shares of the financial services provider’s stock after purchasing an additional 230 shares during the period. Signet Financial Management LLC’s holdings in Wells Fargo & Company were worth $3,998,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Miracle Mile Advisors LLC raised its stake in shares of Wells Fargo & Company by 66.0% during the 4th quarter. Miracle Mile Advisors LLC now owns 35,166 shares of the financial services provider’s stock valued at $2,470,000 after buying an additional 13,981 shares during the last quarter. Sunflower Bank N.A. grew its holdings in Wells Fargo & Company by 8.1% during the fourth quarter. Sunflower Bank N.A. now owns 7,309 shares of the financial services provider’s stock worth $513,000 after acquiring an additional 547 shares during the period. Davis Investment Partners LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $213,000. Kwmg LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $203,000. Finally, Eastern Bank boosted its position in Wells Fargo & Company by 10.2% in the 4th quarter. Eastern Bank now owns 15,420 shares of the financial services provider’s stock worth $1,083,000 after purchasing an additional 1,431 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on WFC. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a report on Monday, October 14th. Barclays raised their target price on Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Compass Point increased their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Piper Sandler boosted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Twelve 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.92.

Wells Fargo & Company Trading Up 0.9 %

Shares of WFC stock traded up $0.63 on Monday, hitting $70.59. 10,437,606 shares of the stock traded hands, compared to its average volume of 12,538,234. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13. The firm’s 50-day moving average price is $72.13 and its two-hundred day moving average price is $62.97. The stock has a market capitalization of $235.03 billion, a PE ratio of 14.68, a PEG ratio of 1.47 and a beta of 1.18.

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

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 33.26%.

Insider Transactions at Wells Fargo & Company

In other news, EVP Ather Williams III sold 60,000 shares of the firm’s stock in a transaction 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 directly owns 163,610 shares in the company, valued at $10,421,957. This trade represents a 26.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.08% of the company’s stock.

Wells Fargo & 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.