Greatmark Investment Partners Inc. boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 346,840 shares of the financial services provider's stock after purchasing an additional 9,320 shares during the period. Wells Fargo & Company makes up approximately 2.7% of Greatmark Investment Partners Inc.'s portfolio, making the stock its 14th biggest holding. Greatmark Investment Partners Inc.'s holdings in Wells Fargo & Company were worth $13,950,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new position in Wells Fargo & Company during the second quarter worth approximately $26,000. Csenge Advisory Group raised its stake in Wells Fargo & Company by 3.3% during the third quarter. Csenge Advisory Group now owns 21,920 shares of the financial services provider's stock worth $882,000 after purchasing an additional 700 shares during the period. Main Street Financial Solutions LLC raised its stake in Wells Fargo & Company by 9.4% during the second quarter. Main Street Financial Solutions LLC now owns 6,020 shares of the financial services provider's stock worth $236,000 after purchasing an additional 516 shares during the period. Tevis Investment Management raised its stake in Wells Fargo & Company by 19.4% during the third quarter. Tevis Investment Management now owns 2,641 shares of the financial services provider's stock worth $106,000 after purchasing an additional 430 shares during the period. Finally, Tranquilli Financial Advisor LLC raised its stake in Wells Fargo & Company by 15.3% during the second quarter. Tranquilli Financial Advisor LLC now owns 5,907 shares of the financial services provider's stock worth $231,000 after purchasing an additional 784 shares during the period. Hedge funds and other institutional investors own 72.24% of the company's stock.
Get Wells Fargo & Company alerts:Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. Piper Sandler downgraded shares of Wells Fargo & Company from an "overweight" rating to a "neutral" rating and cut their target price for the company from $49.00 to $47.00 in a research note on Tuesday, January 17th. StockNews.com assumed coverage on shares of Wells Fargo & Company in a research note on Wednesday, October 12th. They issued a "hold" rating on the stock. Morgan Stanley cut their target price on shares of Wells Fargo & Company from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Thursday, December 15th. Cfra raised shares of Wells Fargo & Company to a "buy" rating and set a $50.00 target price on the stock in a research note on Friday, January 13th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Wells Fargo & Company from $60.00 to $50.00 in a research note on Friday, January 6th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $52.09.
Wells Fargo & Company Price Performance
Shares of WFC stock opened at $47.58 on Friday. The firm has a market cap of $181.30 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.96 and a beta of 1.19. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.84 and a quick ratio of 0.84. Wells Fargo & Company has a 1-year low of $36.54 and a 1-year high of $60.30. The firm has a fifty day moving average of $43.55 and a two-hundred day moving average of $44.01.Wells Fargo & Company (NYSE:WFC – Get Rating) last announced its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. The company had revenue of $19.66 billion during the quarter, compared to analyst estimates of $20.04 billion. Wells Fargo & Company had a net margin of 15.91% and a return on equity of 9.28%. The firm's revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the business earned $1.38 EPS. As a group, research analysts anticipate that Wells Fargo & Company will post 4.83 earnings per share for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Friday, February 3rd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.52%. The ex-dividend date is Thursday, February 2nd. Wells Fargo & Company's dividend payout ratio is currently 38.22%.
About Wells Fargo & Company
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Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage products and services, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.
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