Wells Fargo & Company (NYSE:WFC) Shares Purchased by Sapient Capital LLC

Sapient Capital LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 1.7% during the fourth quarter, Holdings Channel reports. The firm owned 341,219 shares of the financial services provider’s stock after purchasing an additional 5,716 shares during the period. Sapient Capital LLC’s holdings in Wells Fargo & Company were worth $23,967,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WFC. Two Sigma Advisers LP boosted its holdings in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after acquiring an additional 5,237,500 shares during the last quarter. Canoe Financial LP acquired a new stake in Wells Fargo & Company during the third quarter worth about $160,529,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Wells Fargo & Company by 158.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after purchasing an additional 1,659,716 shares during the period. Artemis Investment Management LLP lifted its stake in shares of Wells Fargo & Company by 410.8% in the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after purchasing an additional 1,105,679 shares in the last quarter. Finally, National Pension Service grew its holdings in shares of Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after purchasing an additional 897,195 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on WFC. Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Citigroup raised their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Truist Financial raised their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Finally, Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Down 2.0 %

Shares of NYSE:WFC opened at $79.05 on Tuesday. The firm has a market cap of $263.21 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. The company has a fifty day simple moving average of $73.89 and a 200 day simple moving average of $65.51. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $47.59 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. The company’s revenue was down .5% on a year-over-year basis. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is currently 29.74%.

About Wells Fargo & Company

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.