NorthRock Partners LLC Has $5.25 Million Stake in Wells Fargo & Company (NYSE:WFC)

NorthRock Partners LLC grew its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 182.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,753 shares of the financial services provider's stock after purchasing an additional 48,254 shares during the period. NorthRock Partners LLC's holdings in Wells Fargo & Company were worth $5,251,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on WFC shares. Royal Bank of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a research report on Thursday, March 13th. Raymond James lowered their price target on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. lowered their price target on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. TD Cowen started coverage on Wells Fargo & Company in a research report on Thursday. They set a "hold" rating and a $83.00 price target on the stock. Finally, Truist Financial lowered their price target on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Seven equities 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $75.73.

Wells Fargo & Company Price Performance

NYSE WFC traded up $0.62 on Friday, hitting $76.21. 13,857,805 shares of the company's stock were exchanged, compared to its average volume of 17,511,054. The stock has a 50-day moving average of $69.60 and a 200-day moving average of $72.49. 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 has a 52 week low of $50.15 and a 52 week high of $81.50. The stock has a market cap of $248.01 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 1.18 and a beta of 1.13.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating 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 company had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. During the same period in the prior year, the company earned $1.20 EPS. Wells Fargo & Company's revenue was down 3.4% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

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

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 9th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, May 9th. Wells Fargo & Company's payout ratio is 28.73%.

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.