SVB Wealth LLC Has $3.01 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

SVB Wealth LLC grew its stake in Wells Fargo & Company (NYSE:WFC) by 2.7% in the fourth quarter, HoldingsChannel reports. The fund owned 61,128 shares of the financial services provider’s stock after acquiring an additional 1,599 shares during the period. SVB Wealth LLC’s holdings in Wells Fargo & Company were worth $3,009,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Arlington Trust Co LLC bought a new position in Wells Fargo & Company in the 4th quarter worth approximately $25,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $29,000. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at $25,000. Studio Investment Management LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $28,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Wells Fargo & Company by 108.0% during the fourth quarter. Venturi Wealth Management LLC now owns 724 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 376 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

WFC stock opened at $57.18 on Thursday. The stock has a 50-day moving average price of $55.42 and a two-hundred day moving average price of $48.61. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $58.44. The stock has a market cap of $202.44 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.10 and a beta of 1.19. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business 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%. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company earned $1.23 earnings per share. Equities analysts forecast that Wells Fargo & Company will post 5.04 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s payout ratio is 29.23%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Odeon Capital Group cut Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a report on Thursday, January 18th. Argus increased their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $51.00 target price on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Piper Sandler cut their price target on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Profile

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.