Integrity Wealth Advisors Inc. Takes Position in Wells Fargo & Company (NYSE:WFC)

Integrity Wealth Advisors Inc. bought a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,123 shares of the financial services provider's stock, valued at approximately $360,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its stake in Wells Fargo & Company by 19.1% in the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after buying an additional 30,510 shares in the last quarter. Valmark Advisers Inc. lifted its holdings in shares of Wells Fargo & Company by 5.5% during the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock valued at $583,000 after acquiring an additional 431 shares during the period. NatWest Group plc boosted its stake in shares of Wells Fargo & Company by 57.7% in the 4th quarter. NatWest Group plc now owns 172,484 shares of the financial services provider's stock valued at $12,115,000 after purchasing an additional 63,102 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $1,656,000. Finally, Modera Wealth Management LLC increased its position in shares of Wells Fargo & Company by 14.1% during the 4th quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider's stock worth $1,444,000 after purchasing an additional 2,548 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded up $0.65 during trading on Friday, hitting $64.63. 18,930,900 shares of the stock were exchanged, compared to its average volume of 17,584,163. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The stock has a market capitalization of $211.02 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The company has a fifty day moving average price of $71.23 and a 200-day moving average price of $71.05. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates 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 business 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 firm earned $1.20 EPS. The firm's revenue was down 3.4% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's payout ratio is 28.73%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on WFC shares. Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective on the stock in a research note on Thursday, March 13th. Barclays dropped their price target on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a report on Monday, April 14th. Truist Financial cut their price objective on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. Finally, Morgan Stanley lifted their price target on Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a report on Monday, April 7th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.34.

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.