Carbahal Olsen Financial Services Group LLC Purchases Shares of 4,320 Wells Fargo & Company (NYSE:WFC)

Carbahal Olsen Financial Services Group LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,320 shares of the financial services provider's stock, valued at approximately $303,000. Wells Fargo & Company accounts for 0.3% of Carbahal Olsen Financial Services Group LLC's portfolio, making the stock its 25th largest position.

A number of other hedge funds have also recently modified their holdings of WFC. Spinnaker Trust grew its holdings in Wells Fargo & Company by 1.8% during the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider's stock worth $520,000 after acquiring an additional 130 shares in the last quarter. Shakespeare Wealth Management LLC boosted its stake in Wells Fargo & Company by 0.9% in the fourth quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider's stock valued at $972,000 after acquiring an additional 130 shares during the period. MONECO Advisors LLC grew its position in shares of Wells Fargo & Company by 1.9% during the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider's stock worth $493,000 after acquiring an additional 134 shares during the last quarter. Crown Wealth Group LLC increased its holdings in shares of Wells Fargo & Company by 2.2% in the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider's stock worth $467,000 after acquiring an additional 140 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its position in Wells Fargo & Company by 0.6% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider's stock valued at $1,580,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 3.2 %

Shares of NYSE WFC traded up $2.13 during mid-day trading on Wednesday, reaching $68.36. 12,242,374 shares of the company traded hands, compared to its average volume of 17,482,054. The company's fifty day moving average is $70.67 and its two-hundred day moving average is $71.28. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market cap of $223.21 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. During the same quarter in the prior year, the company earned $1.20 EPS. The firm's revenue for the quarter was down 3.4% compared to the same quarter last year. On average, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

Wall Street Analyst Weigh In

WFC has been the topic of several analyst reports. Truist Financial dropped their price target on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Piper Sandler dropped their price target on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Keefe, Bruyette & Woods raised their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. Morgan Stanley upped their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Monday, April 7th. Finally, Barclays lowered their target price on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.34.

Wells Fargo & Company Profile

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.