Regent Peak Wealth Advisors LLC Makes New $459,000 Investment in Wells Fargo & Company $WFC

Regent Peak Wealth Advisors LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,477 shares of the financial services provider’s stock, valued at approximately $459,000.

Other large investors have also modified their holdings of the company. HBK Sorce Advisory LLC raised its stake in Wells Fargo & Company by 1.8% during the third quarter. HBK Sorce Advisory LLC now owns 22,940 shares of the financial services provider’s stock valued at $1,983,000 after buying an additional 405 shares in the last quarter. Capital Advisors Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 23.8% in the 3rd quarter. Capital Advisors Wealth Management LLC now owns 3,880 shares of the financial services provider’s stock valued at $325,000 after acquiring an additional 747 shares during the last quarter. Busey Bank raised its position in shares of Wells Fargo & Company by 14.0% during the 3rd quarter. Busey Bank now owns 19,207 shares of the financial services provider’s stock valued at $1,610,000 after acquiring an additional 2,357 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Wells Fargo & Company by 24.9% during the 3rd quarter. Pacer Advisors Inc. now owns 368,058 shares of the financial services provider’s stock valued at $30,851,000 after acquiring an additional 73,381 shares in the last quarter. Finally, BSW Wealth Partners lifted its stake in Wells Fargo & Company by 12.9% during the third quarter. BSW Wealth Partners now owns 3,484 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 398 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Wells Fargo & Company from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. UBS Group lowered their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Finally, Bank of America upped their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus target price of $92.04.

Wells Fargo & Company Price Performance

NYSE WFC opened at $95.28 on Friday. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $95.85. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The stock has a market cap of $299.09 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 0.99 and a beta of 1.11. The company has a 50-day moving average price of $87.68 and a two-hundred day moving average price of $82.85.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. The company had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. Analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 1.9%. Wells Fargo & Company’s payout ratio is presently 29.61%.

Wells Fargo & 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.