Lionshead Wealth Management LLC Makes New $243,000 Investment in Wells Fargo & Company (NYSE:WFC)

Lionshead Wealth Management LLC acquired a new position in Wells Fargo & Company (NYSE:WFC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,462 shares of the financial services provider's stock, valued at approximately $243,000.

Other institutional investors have also recently modified their holdings of the company. Rialto Wealth Management LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $26,000. Investment Counsel Co. of Nevada purchased a new position in Wells Fargo & Company in the 4th quarter worth $28,000. BNP Paribas purchased a new position in Wells Fargo & Company in the 4th quarter worth $28,000. Rakuten Securities Inc. lifted its stake in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after purchasing an additional 237 shares during the last quarter. Finally, McClarren Financial Advisors Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $30,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 1.0%

Wells Fargo & Company stock traded down $0.78 during trading hours on Thursday, hitting $75.50. 15,295,254 shares of the stock traded hands, compared to its average volume of 17,539,703. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The firm's 50-day moving average price is $69.24 and its two-hundred day moving average price is $72.35. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market cap of $245.69 billion, a PE ratio of 14.03, a PEG ratio of 1.18 and a beta of 1.13.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly 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. The company had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm's revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. On average, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

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

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders 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 2.12%. The ex-dividend date of this dividend is Friday, May 9th. Wells Fargo & Company's dividend payout ratio is presently 28.73%.

Analysts Set New Price Targets

WFC has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their price objective 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. Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, April 14th. Piper Sandler lowered their price objective on Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Citigroup cut their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Finally, Royal Bank of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target for the company in a report on Thursday, March 13th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $75.73.

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.