Bedel Financial Consulting Inc. Acquires 1,070 Shares of Wells Fargo & Company (NYSE:WFC)

Bedel Financial Consulting Inc. increased its holdings in Wells Fargo & Company (NYSE:WFC) by 13.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,897 shares of the financial services provider’s stock after purchasing an additional 1,070 shares during the quarter. Bedel Financial Consulting Inc.’s holdings in Wells Fargo & Company were worth $625,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Truvestments Capital LLC bought a new stake in Wells Fargo & Company in the third quarter valued at approximately $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $30,000. Decker Retirement Planning Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $32,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Wells Fargo & Company during the third quarter valued at $34,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Compass Point lifted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Piper Sandler increased their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. UBS Group lifted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $76.96 on Tuesday. The firm has a market capitalization of $253.06 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The business’s fifty day simple moving average is $76.00 and its 200 day simple moving average is $68.11.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.