Evoke Wealth LLC Increases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Evoke Wealth LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 21.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,531 shares of the financial services provider’s stock after buying an additional 1,341 shares during the period. Evoke Wealth LLC’s holdings in Wells Fargo & Company were worth $529,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Horizon Investments LLC boosted its position in shares of Wells Fargo & Company by 1.6% during the fourth quarter. Horizon Investments LLC now owns 79,320 shares of the financial services provider’s stock valued at $5,544,000 after buying an additional 1,267 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Wells Fargo & Company by 15.0% during the fourth quarter. Advisors Asset Management Inc. now owns 55,180 shares of the financial services provider’s stock valued at $3,876,000 after buying an additional 7,208 shares during the last quarter. Carlson Capital Management boosted its position in shares of Wells Fargo & Company by 3.5% during the fourth quarter. Carlson Capital Management now owns 11,016 shares of the financial services provider’s stock valued at $774,000 after buying an additional 370 shares during the last quarter. PDS Planning Inc boosted its position in shares of Wells Fargo & Company by 1.7% during the fourth quarter. PDS Planning Inc now owns 10,116 shares of the financial services provider’s stock valued at $711,000 after buying an additional 173 shares during the last quarter. Finally, Leelyn Smith LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $214,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $71.08 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The firm has a market cap of $233.72 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.18 and a beta of 1.16. The business’s fifty day moving average is $75.86 and its 200 day moving average is $69.19.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the company posted $0.86 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a dividend of $0.40 per share. 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 2.25%. Wells Fargo & Company’s payout ratio is 29.74%.

Analysts Set New Price Targets

WFC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted 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. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Piper Sandler lifted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Barclays lifted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Morgan Stanley lifted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus price target of $74.39.

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.