Ritholtz Wealth Management Purchases 1,426 Shares of Wells Fargo & Company (NYSE:WFC)

Ritholtz Wealth Management lifted its position in Wells Fargo & Company (NYSE:WFC) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,135 shares of the financial services provider’s stock after purchasing an additional 1,426 shares during the quarter. Ritholtz Wealth Management’s holdings in Wells Fargo & Company were worth $2,222,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Kathmere Capital Management LLC increased its stake in Wells Fargo & Company by 19.5% during the third quarter. Kathmere Capital Management LLC now owns 7,248 shares of the financial services provider’s stock worth $296,000 after acquiring an additional 1,185 shares during the last quarter. Stoneridge Investment Partners LLC increased its stake in Wells Fargo & Company by 410.5% during the third quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock worth $2,757,000 after acquiring an additional 54,262 shares during the last quarter. Caxton Associates LP bought a new stake in Wells Fargo & Company during the second quarter worth approximately $4,967,000. United Services Automobile Association increased its stake in Wells Fargo & Company by 13.7% during the third quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after acquiring an additional 11,825 shares during the last quarter. Finally, Synovus Financial Corp increased its stake in Wells Fargo & Company by 61.7% during the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after acquiring an additional 46,525 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Up 0.6 %

Wells Fargo & Company stock traded up $0.35 during mid-day trading on Thursday, reaching $57.96. 14,546,593 shares of the company were exchanged, compared to its average volume of 19,147,393. The business has a fifty day moving average of $53.00 and a 200 day moving average of $47.01. The firm has a market cap of $205.20 billion, a P/E ratio of 12.02, a PEG ratio of 1.18 and a beta of 1.19. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88. Wells Fargo & Company has a 12-month low of $36.27 and a 12-month high of $58.44.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). The business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.30 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. Research analysts anticipate that Wells Fargo & Company will post 4.72 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s payout ratio is presently 29.05%.

Analysts Set New Price Targets

WFC has been the topic of a number of analyst reports. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, March 19th. Robert W. Baird reaffirmed a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a research note on Monday, January 8th. Piper Sandler cut their target price on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $51.00 price target on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.85.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.