abrdn plc Increases Position in Wells Fargo & Company (NYSE:WFC)

abrdn plc increased its stake in shares of Wells Fargo & Company (NYSE:WFCFree Report) by 72.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,573,036 shares of the financial services provider’s stock after buying an additional 661,936 shares during the quarter. abrdn plc’s holdings in Wells Fargo & Company were worth $77,425,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WFC. First Financial Corp IN raised its holdings in Wells Fargo & Company by 4.9% in the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 214 shares during the last quarter. CX Institutional increased its holdings in shares of Wells Fargo & Company by 1.1% during the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after buying an additional 217 shares during the last quarter. ERTS Wealth Advisors LLC increased its holdings in shares of Wells Fargo & Company by 3.5% during the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after buying an additional 228 shares during the last quarter. Prio Wealth Limited Partnership increased its holdings in shares of Wells Fargo & Company by 1.7% during the 4th quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock worth $704,000 after buying an additional 233 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Wells Fargo & Company by 19.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock worth $75,000 after buying an additional 244 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $60.35 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The company has a fifty day simple moving average of $55.88 and a two-hundred day simple moving average of $48.89. The company has a market cap of $213.66 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $60.85.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.23 earnings per share. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.06 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. Investors of record on Friday, February 2nd were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. Wells Fargo & Company’s payout ratio is currently 29.23%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WFC shares. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Compass Point restated a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Robert W. Baird restated a “neutral” rating and set a $55.00 price target on shares of Wells Fargo & Company in a report on Monday, January 8th. Finally, HSBC raised their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average target price of $58.85.

Check Out Our Latest Stock Report on WFC

About Wells Fargo & Company

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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