Bailard Inc. increased its holdings in shares of Wells Fargo & Company (NYSE:WFC – Get Rating) by 3.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,709 shares of the financial services provider’s stock after purchasing an additional 279 shares during the quarter. Bailard Inc.’s holdings in Wells Fargo & Company were worth $422,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $1,566,470,000. Capital World Investors boosted its position in Wells Fargo & Company by 37.4% during the 4th quarter. Capital World Investors now owns 30,966,799 shares of the financial services provider’s stock worth $1,485,787,000 after acquiring an additional 8,421,820 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Wells Fargo & Company by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 17,758,512 shares of the financial services provider’s stock worth $852,047,000 after acquiring an additional 321,934 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in Wells Fargo & Company by 8.6% during the 4th quarter. Parametric Portfolio Associates LLC now owns 9,845,418 shares of the financial services provider’s stock worth $472,383,000 after acquiring an additional 780,425 shares during the last quarter. Finally, Toronto Dominion Bank boosted its position in Wells Fargo & Company by 8.5% during the 4th quarter. Toronto Dominion Bank now owns 5,331,925 shares of the financial services provider’s stock worth $131,344,000 after acquiring an additional 418,123 shares during the last quarter. 74.01% of the stock is owned by hedge funds and other institutional investors.
WFC stock opened at $40.18 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.80 and a quick ratio of 0.79. The stock has a market capitalization of $152.30 billion, a price-to-earnings ratio of 8.35, a PEG ratio of 0.98 and a beta of 1.16. The business’s fifty day moving average price is $42.02 and its two-hundred day moving average price is $48.34. Wells Fargo & Company has a fifty-two week low of $36.54 and a fifty-two week high of $60.30.
Wells Fargo & Company (NYSE:WFC – Get Rating) last posted its quarterly earnings data on Thursday, April 14th. The financial services provider reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.07. The firm had revenue of $17.59 billion for the quarter, compared to analysts’ expectations of $17.82 billion. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 EPS. Research analysts expect that Wells Fargo & Company will post 4.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 6th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.49%. The ex-dividend date was Thursday, May 5th. Wells Fargo & Company’s payout ratio is 20.79%.
In other Wells Fargo & Company news, EVP Kleber Santos sold 22,700 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total transaction of $1,008,788.00. Following the transaction, the executive vice president now owns 21,478 shares in the company, valued at approximately $954,482.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.05% of the stock is owned by company insiders.
A number of equities analysts have weighed in on WFC shares. BMO Capital Markets reduced their price target on Wells Fargo & Company from $64.00 to $60.00 and set a “market perform” rating for the company in a research report on Monday, April 18th. Piper Sandler set a $48.00 price target on Wells Fargo & Company in a research report on Monday, June 20th. Citigroup raised Wells Fargo & Company from a “neutral” rating to a “buy” rating and cut their price objective for the company from $58.00 to $56.00 in a report on Monday, April 11th. Raymond James cut their price objective on Wells Fargo & Company from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, June 24th. Finally, Royal Bank of Canada cut their price objective on Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, July 1st. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $57.03.
Wells Fargo & Company Company Profile (Get Rating)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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Source: defenseworld.net
