SeaCrest Wealth Management LLC Purchases 2,050 Shares of Wells Fargo & Company (NYSE:WFC)

SeaCrest Wealth Management LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,824 shares of the financial services provider’s stock after purchasing an additional 2,050 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,589,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Fortis Group Advisors LLC bought a new stake in shares of Wells Fargo & Company in the third quarter worth about $25,000. Studio Investment Management LLC bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company during the 1st quarter worth approximately $28,000. Baystate Wealth Management LLC lifted its stake in Wells Fargo & Company by 53.0% in the third quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock valued at $33,000 after buying an additional 278 shares in the last quarter. Finally, Impact Partnership Wealth LLC acquired a new position in shares of Wells Fargo & Company in the third quarter valued at approximately $34,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC traded up $0.35 during midday trading on Thursday, hitting $57.96. 14,546,593 shares of the company’s stock were exchanged, compared to its average volume of 19,147,393. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $205.20 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a 12 month low of $36.27 and a 12 month high of $58.44. The company’s 50 day moving average price is $53.00 and its 200 day moving average price is $47.01.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.30 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.67 earnings per share. As a group, analysts predict that Wells Fargo & Company will post 4.72 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.42%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.05%.

Analyst Ratings Changes

WFC has been the topic of a number of research analyst reports. Piper Sandler dropped their price objective on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, January 16th. Morgan Stanley boosted their target price on Wells Fargo & Company from $54.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, January 30th. Raymond James boosted their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 16th. Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price target on shares of Wells Fargo & Company in a research note on Monday, January 8th. Finally, Compass Point increased their price objective on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $55.85.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.