Lane Brothers & Co. Inc. Makes New $893,000 Investment in Wells Fargo & Company $WFC

Lane Brothers & Co. Inc. bought a new stake in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 9,582 shares of the financial services provider’s stock, valued at approximately $893,000.

Other institutional investors have also modified their holdings of the company. Godfrey Financial Associates Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Miller Capital Partners Inc. acquired a new position in Wells Fargo & Company in the 4th quarter valued at $25,000. Navalign LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new position in Wells Fargo & Company during the 3rd quarter worth $27,000. Finally, Joseph Group Capital Management acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of several analyst reports. The Goldman Sachs Group lowered their target price on shares of Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. KGI Securities cut shares of Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. Evercore restated an “outperform” rating on shares of Wells Fargo & Company in a research report on Friday, March 6th. Barclays lowered their price objective on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a report on Wednesday, April 15th. Finally, Piper Sandler reiterated an “overweight” rating and set a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a research report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.24.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $82.31 on Friday. The firm has a market capitalization of $251.89 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. The business’s 50 day simple moving average is $79.70 and its 200-day simple moving average is $84.59. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.02. The firm had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.Wells Fargo & Company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the business posted $1.39 EPS. As a group, equities analysts forecast that Wells Fargo & Company will post 6.86 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were given a $0.45 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 27.78%.

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.