Wells Fargo & Company (NYSE:WFC) Shares Purchased by Banque Pictet & Cie SA

Banque Pictet & Cie SA increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 8.5% in the 4th quarter, HoldingsChannel reports. The firm owned 1,452,996 shares of the financial services provider’s stock after purchasing an additional 113,439 shares during the period. Wells Fargo & Company makes up 0.7% of Banque Pictet & Cie SA’s investment portfolio, making the stock its 22nd biggest position. Banque Pictet & Cie SA’s holdings in Wells Fargo & Company were worth $102,058,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFC. Root Financial Partners LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $228,000. Walkner Condon Financial Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $246,000. Bogart Wealth LLC boosted its position in shares of Wells Fargo & Company by 24.4% during the 4th quarter. Bogart Wealth LLC now owns 1,117 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 219 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in shares of Wells Fargo & Company by 6.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 10,901 shares of the financial services provider’s stock worth $766,000 after acquiring an additional 620 shares in the last quarter. Finally, Sunburst Financial Group LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $228,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 0.6 %

WFC opened at $78.76 on Friday. The business has a 50 day moving average price of $74.20 and a two-hundred day moving average price of $65.87. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a market cap of $262.23 billion, a PE ratio of 14.64, a P/E/G ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $47.96 and a 52 week 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 (EPS) for the quarter, topping 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 analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Ratings Changes

Several research analysts have recently issued reports on WFC shares. Compass Point upped their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods upped their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Barclays boosted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Truist Financial boosted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” 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. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and a consensus price target of $73.39.

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.