Proficio Capital Partners LLC Raises Stock Position in Wells Fargo & Company (NYSE:WFC)

Proficio Capital Partners LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 53.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,855 shares of the financial services provider’s stock after acquiring an additional 3,436 shares during the period. Proficio Capital Partners LLC’s holdings in Wells Fargo & Company were worth $692,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Seizert Capital Partners LLC raised its stake in shares of Wells Fargo & Company by 9.0% in the 4th quarter. Seizert Capital Partners LLC now owns 857,478 shares of the financial services provider’s stock valued at $60,229,000 after acquiring an additional 70,980 shares during the period. SPC Financial Inc. grew its holdings in Wells Fargo & Company by 2.6% during the 4th quarter. SPC Financial Inc. now owns 6,099 shares of the financial services provider’s stock valued at $428,000 after purchasing an additional 154 shares in the last quarter. Assetmark Inc. grew its holdings in Wells Fargo & Company by 41.2% during the 4th quarter. Assetmark Inc. now owns 540,377 shares of the financial services provider’s stock valued at $37,956,000 after purchasing an additional 157,660 shares in the last quarter. NewSquare Capital LLC grew its holdings in Wells Fargo & Company by 734.3% during the 4th quarter. NewSquare Capital LLC now owns 1,385 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 1,219 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its holdings in Wells Fargo & Company by 68.1% during the 4th quarter. J.Safra Asset Management Corp now owns 6,725 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 2,725 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WFC. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Truist Financial raised their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. 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 for the company in a report on Thursday, March 13th. Finally, Compass Point raised their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.39.

Wells Fargo & Company Stock Down 0.0 %

WFC stock opened at $72.51 on Friday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The firm has a market cap of $238.43 billion, a PE ratio of 13.48, a P/E/G ratio of 1.18 and a beta of 1.16. The firm has a 50 day simple moving average of $75.95 and a 200 day simple moving average of $69.42. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period in the prior year, the business earned $0.86 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

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.