NatWest Group plc Purchases 63,102 Shares of Wells Fargo & Company (NYSE:WFC)

NatWest Group plc boosted its position in Wells Fargo & Company (NYSE:WFC) by 57.7% in the 4th quarter, Holdings Channel reports. The firm owned 172,484 shares of the financial services provider’s stock after buying an additional 63,102 shares during the quarter. Wells Fargo & Company accounts for approximately 3.6% of NatWest Group plc’s portfolio, making the stock its 12th biggest position. NatWest Group plc’s holdings in Wells Fargo & Company were worth $12,115,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WFC. Jacobsen Capital Management increased its position in shares of Wells Fargo & Company by 2.8% during the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 148 shares during the last quarter. Quad Cities Investment Group LLC boosted its stake in Wells Fargo & Company by 0.3% during the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after buying an additional 158 shares during the period. Investors Research Corp increased its position in shares of Wells Fargo & Company by 1.2% during the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock valued at $760,000 after acquiring an additional 160 shares during the last quarter. Ellenbecker Investment Group increased its position in shares of Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 164 shares during the last quarter. Finally, Income Research & Management purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $211,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial lifted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI lifted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Stock Down 0.8 %

Wells Fargo & Company stock opened at $80.76 on Friday. The stock has a market cap of $268.89 billion, a PE ratio of 15.01, a P/E/G ratio of 1.19 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock’s fifty day moving average is $73.80 and its two-hundred day moving average is $65.28. Wells Fargo & Company has a 1-year low of $47.47 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the company posted $0.86 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts expect that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 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.