Dana Investment Advisors Inc. Purchases 9,259 Shares of Wells Fargo & Company (NYSE:WFC)

Dana Investment Advisors Inc. boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 367,844 shares of the financial services provider’s stock after buying an additional 9,259 shares during the quarter. Wells Fargo & Company makes up approximately 0.9% of Dana Investment Advisors Inc.’s portfolio, making the stock its 19th largest holding. Dana Investment Advisors Inc.’s holdings in Wells Fargo & Company were worth $25,837,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Truvestments Capital LLC bought a new position in Wells Fargo & Company during the third quarter worth about $29,000. Modus Advisors LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $30,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company during the fourth quarter worth about $30,000. Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company during the fourth quarter worth about $32,000. Finally, MidAtlantic Capital Management Inc. bought a new position in Wells Fargo & Company during the third quarter worth about $34,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.2 %

Shares of NYSE WFC opened at $74.20 on Thursday. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm’s 50 day simple moving average is $76.08 and its two-hundred day simple moving average is $68.28. The stock has a market capitalization of $243.97 billion, a P/E ratio of 13.79, a PEG ratio of 1.18 and a beta of 1.18.

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

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of research reports. Barclays increased their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Truist Financial increased their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, UBS Group increased their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Profile

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.