Marble Harbor Investment Counsel LLC Purchases 5,215 Shares of Wells Fargo & Company (NYSE:WFC)

Marble Harbor Investment Counsel LLC lifted its position in Wells Fargo & Company (NYSE:WFC) by 4.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 130,504 shares of the financial services provider’s stock after acquiring an additional 5,215 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Wells Fargo & Company were worth $9,167,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WFC. Rialto Wealth Management LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth about $26,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $30,000. Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company during the 4th quarter valued at $32,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Wells Fargo & Company in the 4th quarter valued at $35,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on WFC. UBS Group lifted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Piper Sandler lifted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial upped their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Finally, Morgan Stanley boosted 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. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

Shares of WFC opened at $71.01 on Friday. The company has a 50 day moving average of $76.10 and a two-hundred day moving average of $68.41. The company has a market cap of $233.50 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $20.58 billion. During the same period in the prior year, the company posted $0.86 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

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.