Krilogy Financial LLC Takes $838,000 Position in Wells Fargo & Company $WFC

Krilogy Financial LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) in the 3rd quarter, Holdings Channel.com reports. The fund bought 9,642 shares of the financial services provider’s stock, valued at approximately $838,000.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Wells Fargo & Company in the 2nd quarter valued at about $3,990,551,000. Massachusetts Financial Services Co. MA boosted its position in shares of Wells Fargo & Company by 54.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock worth $1,332,851,000 after acquiring an additional 5,894,747 shares during the last quarter. Amundi boosted its position in shares of Wells Fargo & Company by 18.2% in the second quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock worth $1,165,868,000 after acquiring an additional 2,180,693 shares during the last quarter. Laurel Wealth Advisors LLC grew its holdings in Wells Fargo & Company by 8,010.7% in the second quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock valued at $158,135,000 after purchasing an additional 1,949,395 shares during the period. Finally, Mawer Investment Management Ltd. purchased a new stake in Wells Fargo & Company in the third quarter valued at approximately $147,165,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $86.94 on Friday. The firm’s fifty day simple moving average is $91.80 and its 200 day simple moving average is $85.88. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $97.76. The firm has a market capitalization of $272.92 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.95 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.10. The firm had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.43 EPS. As a group, equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is currently 28.71%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WFC shares. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Truist Financial dropped their price objective on Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, January 15th. Freedom Capital lowered Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 15th. Evercore lowered their price target on Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. Finally, TD Cowen dropped their price target on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, January 15th. Thirteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $97.03.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.