Callan Family Office LLC Acquires 91,731 Shares of Wells Fargo & Company (NYSE:WFC)

Callan Family Office LLC increased its stake in Wells Fargo & Company (NYSE:WFC) by 1,388.2% during the fourth quarter, HoldingsChannel reports. The firm owned 98,339 shares of the financial services provider’s stock after acquiring an additional 91,731 shares during the period. Callan Family Office LLC’s holdings in Wells Fargo & Company were worth $6,907,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Hartford Funds Management Co LLC increased its holdings in Wells Fargo & Company by 9.9% in the 4th quarter. Hartford Funds Management Co LLC now owns 23,066 shares of the financial services provider’s stock worth $1,620,000 after acquiring an additional 2,082 shares during the last quarter. Welch & Forbes LLC boosted its position in Wells Fargo & Company by 0.4% during the fourth quarter. Welch & Forbes LLC now owns 46,363 shares of the financial services provider’s stock worth $3,257,000 after purchasing an additional 199 shares during the period. E Fund Management Co. Ltd. increased its stake in shares of Wells Fargo & Company by 56.5% in the fourth quarter. E Fund Management Co. Ltd. now owns 37,271 shares of the financial services provider’s stock worth $2,618,000 after purchasing an additional 13,451 shares in the last quarter. Ethos Financial Group LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $166,000. Finally, Washington Trust Advisors Inc. raised its position in shares of Wells Fargo & Company by 2.5% in the fourth quarter. Washington Trust Advisors Inc. now owns 6,987 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 169 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on WFC shares. Barclays raised their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Citigroup boosted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Morgan Stanley raised their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Compass Point boosted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Truist Financial raised their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Trading Down 2.1 %

WFC stock opened at $72.59 on Friday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The firm’s 50-day moving average is $76.10 and its 200 day moving average is $68.31. The company has a market capitalization of $238.68 billion, a PE ratio of 13.49, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last released 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the business posted $0.86 EPS. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced 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 2.20%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Wells Fargo & Company 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.