Wells Fargo & Company (NYSE:WFC) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 613,324 shares of the financial services provider’s stock after purchasing an additional 12,352 shares during the period. DnB Asset Management AS’s holdings in Wells Fargo & Company were worth $43,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. NBZ Investment Advisors LLC purchased a new stake in Wells Fargo & Company during the fourth quarter worth approximately $795,000. Vertex Planning Partners LLC raised its holdings in Wells Fargo & Company by 4.4% during the fourth quarter. Vertex Planning Partners LLC now owns 14,289 shares of the financial services provider’s stock worth $1,004,000 after purchasing an additional 596 shares in the last quarter. denkapparat Operations GmbH purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $934,000. Orion Portfolio Solutions LLC boosted its holdings in shares of Wells Fargo & Company by 8.4% in the 4th quarter. Orion Portfolio Solutions LLC now owns 154,601 shares of the financial services provider’s stock valued at $10,859,000 after buying an additional 12,028 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of Wells Fargo & Company by 12.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,507,766 shares of the financial services provider’s stock valued at $105,905,000 after buying an additional 164,308 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Morgan Stanley upped their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Compass Point lifted their price target 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. Keefe, Bruyette & Woods raised their target price on shares of 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. Finally, UBS Group upped their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $74.18.

Wells Fargo & Company Stock Down 1.6 %

Wells Fargo & Company stock opened at $72.33 on Friday. The stock’s 50 day moving average price is $75.97 and its 200 day moving average price is $69.80. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a market cap of $236.17 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

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

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

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.