Global Retirement Partners LLC Purchases 6,374 Shares of Wells Fargo & Company $WFC

Global Retirement Partners LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,186 shares of the financial services provider’s stock after acquiring an additional 6,374 shares during the period. Global Retirement Partners LLC’s holdings in Wells Fargo & Company were worth $6,637,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Embree Financial Group lifted its position in shares of Wells Fargo & Company by 3.9% during the 3rd quarter. Embree Financial Group now owns 3,330 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 126 shares during the last quarter. Trust Co. of Vermont increased its position in Wells Fargo & Company by 1.1% in the 3rd quarter. Trust Co. of Vermont now owns 12,098 shares of the financial services provider’s stock worth $1,014,000 after buying an additional 126 shares during the period. Traphagen Investment Advisors LLC increased its position in Wells Fargo & Company by 2.0% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 6,346 shares of the financial services provider’s stock worth $532,000 after buying an additional 127 shares during the period. Wealth Management Partners LLC lifted its holdings in shares of Wells Fargo & Company by 3.5% during the second quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after buying an additional 128 shares during the last quarter. Finally, Verum Partners LLC boosted its position in shares of Wells Fargo & Company by 1.8% in the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock valued at $582,000 after acquiring an additional 128 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Weiss Ratings raised shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Truist Financial upped their price objective on shares of Wells Fargo & Company from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Finally, Morgan Stanley boosted their price target on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.04.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $95.15 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The company has a 50-day moving average of $88.82 and a 200-day moving average of $83.76. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $95.85. The company has a market capitalization of $298.68 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 0.87 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its 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. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. During the same quarter in the previous year, the firm posted $1.42 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Wells Fargo & Company 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.