Norinchukin Bank The Buys 9,306 Shares of Wells Fargo & Company (NYSE:WFC)

Norinchukin Bank The boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 148,491 shares of the financial services provider’s stock after acquiring an additional 9,306 shares during the period. Norinchukin Bank The’s holdings in Wells Fargo & Company were worth $10,430,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in WFC. Rialto Wealth Management LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth $26,000. Investment Counsel Co. of Nevada bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $28,000. Rakuten Securities Inc. grew its position in shares of Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares in the last quarter. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Finally, McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WFC shares. Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Barclays reduced their price target on shares of Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Truist Financial decreased their price objective on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Bank of America cut their target price on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, Raymond James decreased their price target on shares of Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating on the stock in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.34.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $64.63 on Friday. The stock has a 50 day moving average price of $71.23 and a 200 day moving average price of $71.05. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market capitalization of $211.02 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.16. The business had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.20 earnings per share. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.48%. Wells Fargo & Company’s dividend payout ratio is presently 28.73%.

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.