Bayban Invests $1.02 Million in Wells Fargo & Company $WFC

Bayban bought a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,986 shares of the financial services provider’s stock, valued at approximately $1,024,000. Wells Fargo & Company comprises 0.9% of Bayban’s investment portfolio, making the stock its 21st largest position.

Other large investors have also recently made changes to their positions in the company. Private Wealth Group LLC boosted its holdings in shares of Wells Fargo & Company by 2.5% in the fourth quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock valued at $421,000 after acquiring an additional 108 shares during the period. Nixon Peabody Trust Co. increased its holdings in shares of Wells Fargo & Company by 3.6% in the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 115 shares during the period. Simmons Bank raised its position in Wells Fargo & Company by 1.9% in the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 116 shares during the last quarter. Moss Adams Wealth Advisors LLC raised its position in Wells Fargo & Company by 1.0% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock valued at $1,123,000 after purchasing an additional 117 shares during the last quarter. Finally, D Orazio & Associates Inc. boosted its stake in Wells Fargo & Company by 3.6% during the 3rd quarter. D Orazio & Associates Inc. now owns 3,436 shares of the financial services provider’s stock worth $288,000 after purchasing an additional 118 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on WFC. JPMorgan Chase & Co. lowered their price objective on shares of Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Piper Sandler reiterated an “overweight” rating and set a $94.00 target price (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. HSBC raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a report on Wednesday, April 1st. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.24.

Wells Fargo & Company Stock Up 0.1%

WFC stock opened at $82.31 on Friday. The stock has a market capitalization of $251.89 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93. The company has a fifty day moving average of $79.70 and a 200-day moving average of $84.59. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. The business had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.39 earnings per share. As a group, analysts expect that Wells Fargo & Company will post 6.86 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s payout ratio is currently 27.78%.

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.