Wells Fargo & Company $WFC Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC grew its stake in Wells Fargo & Company (NYSE:WFC) by 43.5% during the 4th quarter, HoldingsChannel reports. The firm owned 96,058 shares of the financial services provider’s stock after buying an additional 29,127 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $8,953,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter worth approximately $27,000. Marquette Asset Management LLC grew its stake in shares of Wells Fargo & Company by 472.4% during the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 274 shares during the period. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter worth approximately $30,000. Imprint Wealth LLC acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter worth approximately $31,000. Finally, Main Street Group LTD grew its stake in shares of Wells Fargo & Company by 36.9% during the 3rd quarter. Main Street Group LTD now owns 438 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.3%

Shares of NYSE:WFC opened at $79.45 on Friday. Wells Fargo & Company has a 1 year low of $68.67 and a 1 year high of $97.76. The firm has a market capitalization of $245.16 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 0.94 and a beta of 1.06. 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 moving average price is $81.34 and its 200-day moving average price is $86.13.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The firm had revenue of $21.45 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same quarter last year, the firm posted $1.39 EPS. The business’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts forecast that Wells Fargo & Company will post 6.83 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Friday, February 6th were given a dividend of $0.45 per share. The ex-dividend date was Friday, February 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. Wells Fargo & Company’s dividend payout ratio (DPR) is 27.78%.

Analyst Ratings Changes

A number of brokerages have recently commented on WFC. Truist Financial dropped their price objective on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Robert W. Baird raised shares of Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 price objective on the stock in a research note on Friday, February 13th. Barclays dropped their price objective on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Monday, April 20th. Finally, Morgan Stanley dropped their price objective on shares of Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.75.

Insider Activity

In other news, EVP Bridget E. Engle sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the transaction, the executive vice president owned 83,478 shares in the company, valued at $7,270,933.80. This trade represents a 26.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ellen R. Patterson sold 60,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $87.40, for a total value of $5,244,000.00. Following the transaction, the executive vice president owned 169,496 shares in the company, valued at $14,813,950.40. This trade represents a 26.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 115,000 shares of company stock worth $10,050,000 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

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.