CreativeOne Wealth LLC Purchases New Holdings in Wells Fargo & Company (NYSE:WFC)

CreativeOne Wealth LLC acquired a new position in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,718 shares of the financial services provider’s stock, valued at approximately $232,000.

A number of other institutional investors have also recently bought and sold shares of WFC. United Services Automobile Association boosted its holdings in shares of Wells Fargo & Company by 13.7% in the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after buying an additional 11,825 shares during the last quarter. Synovus Financial Corp boosted its stake in Wells Fargo & Company by 61.7% in the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after acquiring an additional 46,525 shares during the last quarter. Trust Point Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $2,499,000. WealthPlan Investment Management LLC increased its stake in shares of Wells Fargo & Company by 2,174.3% during the 3rd quarter. WealthPlan Investment Management LLC now owns 21,287 shares of the financial services provider’s stock worth $870,000 after purchasing an additional 20,351 shares during the last quarter. Finally, G2 Capital Management LLC OH bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $278,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $60.21 on Friday. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The stock has a fifty day moving average of $59.03 and a 200 day moving average of $52.47. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $209.91 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.59 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company posted $1.23 EPS. On average, research analysts expect that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.33%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.23%.

Wall Street Analysts Forecast Growth

WFC has been the subject of several research reports. Morgan Stanley increased their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Jefferies Financial Group boosted their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Finally, Evercore ISI lifted their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus price target of $58.99.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.