Northern Trust Corp Boosts Stock Position in Wells Fargo & Company (NYSE:WFC)

Northern Trust Corp boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 10.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,339,295 shares of the financial services provider’s stock after buying an additional 3,307,855 shares during the quarter. Northern Trust Corp owned approximately 1.03% of Wells Fargo & Company worth $2,411,992,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Morse Asset Management Inc acquired a new position in Wells Fargo & Company in the third quarter valued at $487,000. Tudor Financial Inc. acquired a new stake in shares of Wells Fargo & Company during the third quarter worth about $468,000. Anchor Investment Management LLC boosted its stake in shares of Wells Fargo & Company by 5.5% during the third quarter. Anchor Investment Management LLC now owns 15,903 shares of the financial services provider’s stock worth $898,000 after buying an additional 836 shares during the period. World Investment Advisors LLC boosted its stake in shares of Wells Fargo & Company by 1,263.8% during the third quarter. World Investment Advisors LLC now owns 75,432 shares of the financial services provider’s stock worth $4,261,000 after buying an additional 69,901 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of Wells Fargo & Company by 4.5% during the third quarter. Tidal Investments LLC now owns 138,813 shares of the financial services provider’s stock worth $7,842,000 after buying an additional 5,946 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.2 %

WFC opened at $69.72 on Monday. The business’s fifty day moving average is $70.01 and its two-hundred day moving average is $71.62. 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 company has a market cap of $227.65 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.16. The company had revenue of $20.15 billion for 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%. Wells Fargo & Company’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 earnings per share. Analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.29%. Wells Fargo & Company’s dividend payout ratio is currently 28.73%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WFC shares. JPMorgan Chase & Co. decreased their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Raymond James decreased their target price on shares of Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating for the company in a research note on Monday, April 14th. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Thursday, March 13th. Truist Financial decreased their target price on shares of Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.34.

Wells Fargo & 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.