Focus Partners Advisor Solutions LLC Acquires 4,377 Shares of Wells Fargo & Company (NYSE:WFC)

Focus Partners Advisor Solutions LLC boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 9.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,050 shares of the financial services provider's stock after buying an additional 4,377 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Wells Fargo & Company were worth $3,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WFC. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $26,000. Investment Counsel Co. of Nevada acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $28,000. BNP Paribas bought a new position in Wells Fargo & Company during the fourth quarter worth about $28,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company during the fourth quarter worth about $30,000. Finally, Rakuten Securities Inc. grew its position in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after buying an additional 237 shares during the period. 75.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, April 14th. Barclays reduced 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 research report on Monday, April 14th. Bank of America decreased their price target on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Piper Sandler dropped their price objective on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley lifted their target price on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $75.73.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $73.20 on Thursday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company's fifty day simple moving average is $69.93 and its 200-day simple moving average is $72.69. The firm has a market cap of $238.19 billion, a PE ratio of 13.61, a P/E/G ratio of 1.18 and a beta of 1.13. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

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

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Friday, May 9th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, May 9th. Wells Fargo & Company's dividend payout ratio is currently 28.73%.

Wells Fargo & Company declared that its board has authorized a share buyback plan on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 17.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Wells Fargo & Company 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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