57,795 Shares in Wells Fargo & Company $WFC Acquired by Firetrail Investments PTY Ltd.

Firetrail Investments PTY Ltd. bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 57,795 shares of the financial services provider’s stock, valued at approximately $4,807,000. Wells Fargo & Company comprises about 1.2% of Firetrail Investments PTY Ltd.’s portfolio, making the stock its 28th biggest holding.

Several other large investors have also recently modified their holdings of the business. Brighton Jones LLC grew its position in shares of Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after buying an additional 25,436 shares during the last quarter. Clear Creek Financial Management LLC acquired a new position in shares of Wells Fargo & Company in the second quarter worth approximately $214,000. Cyndeo Wealth Partners LLC boosted its holdings in Wells Fargo & Company by 2.3% in the second quarter. Cyndeo Wealth Partners LLC now owns 14,089 shares of the financial services provider’s stock valued at $1,129,000 after acquiring an additional 322 shares during the last quarter. PDS Planning Inc increased its position in Wells Fargo & Company by 7.4% during the 2nd quarter. PDS Planning Inc now owns 12,750 shares of the financial services provider’s stock valued at $1,022,000 after purchasing an additional 880 shares during the period. Finally, Greenwood Gearhart Inc. lifted its position in shares of Wells Fargo & Company by 240.9% in the 2nd quarter. Greenwood Gearhart Inc. now owns 12,239 shares of the financial services provider’s stock worth $981,000 after purchasing an additional 8,649 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 2.1%

Shares of NYSE:WFC opened at $93.93 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $97.76. The business’s 50 day simple moving average is $91.64 and its two-hundred day simple moving average is $85.68. The firm has a market cap of $294.85 billion, a P/E ratio of 14.98, a PEG ratio of 1.03 and a beta of 1.09.

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

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WFC. Bank of America increased their price objective on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Truist Financial decreased their price target 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. Evercore dropped their price objective on Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, January 15th. Robert W. Baird lowered Wells Fargo & Company from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Finally, TD Cowen lowered their target price on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, January 15th. Thirteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $95.92.

About Wells Fargo & Company

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.