Brookwood Investment Group LLC Invests $1.13 Million in Wells Fargo & Company (NYSE:WFC)

Brookwood Investment Group LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,762 shares of the financial services provider's stock, valued at approximately $1,132,000.

A number of other hedge funds have also added to or reduced their stakes in WFC. Shakespeare Wealth Management LLC boosted its position 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 buying an additional 130 shares in the last quarter. Safeguard Investment Advisory Group LLC lifted its holdings in shares of Wells Fargo & Company by 2.4% during the fourth quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider's stock worth $410,000 after purchasing an additional 137 shares during the period. Summit Wealth & Retirement Planning Inc. lifted its holdings in shares of Wells Fargo & Company by 4.3% during the first quarter. Summit Wealth & Retirement Planning Inc. now owns 3,362 shares of the financial services provider's stock worth $241,000 after purchasing an additional 139 shares during the period. Nwam LLC lifted its holdings in shares of Wells Fargo & Company by 1.6% during the first quarter. Nwam LLC now owns 8,806 shares of the financial services provider's stock worth $632,000 after purchasing an additional 142 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its holdings in shares of Wells Fargo & Company by 0.6% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider's stock worth $1,580,000 after purchasing an additional 144 shares during the period. 75.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on WFC shares. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $77.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Piper Sandler restated an "overweight" rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. The Goldman Sachs Group cut their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Barclays cut their price target on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, Dbs Bank raised shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of "Moderate Buy" and an average price target of $80.39.

Wells Fargo & Company Trading Up 0.7%

NYSE WFC traded up $0.63 during trading on Thursday, hitting $84.33. The stock had a trading volume of 4,622,815 shares, compared to its average volume of 17,650,416. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market capitalization of $274.41 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 1.28 and a beta of 1.16. Wells Fargo & Company has a one year low of $50.15 and a one year high of $84.53. The stock has a 50 day simple moving average of $77.53 and a 200 day simple moving average of $74.42.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.13. The business had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $1.33 earnings per share. Sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 27.40%.

Wells Fargo & Company declared that its Board of Directors has approved a share buyback program on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 17.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its stock is undervalued.

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.

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