Northern Trust Corp grew its stake in shares of Wells Fargo & Company (NYSE:WFC – Free Report) by 0.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,197,624 shares of the financial services provider’s stock after buying an additional 129,300 shares during the quarter. Northern Trust Corp owned 1.05% of Wells Fargo & Company worth $1,560,755,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Studio Investment Management LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $28,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company in the 1st quarter worth $28,000. Baystate Wealth Management LLC raised its position in Wells Fargo & Company by 53.0% in the 3rd quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 278 shares during the period. Impact Partnership Wealth LLC purchased a new position in Wells Fargo & Company in the 3rd quarter worth $34,000. Finally, Central Bank & Trust Co. raised its position in Wells Fargo & Company by 444.8% in the 3rd quarter. Central Bank & Trust Co. now owns 899 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 734 shares during the period. Hedge funds and other institutional investors own 72.47% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on WFC shares. Robert W. Baird reiterated a “neutral” rating and issued a $55.00 target price on shares of Wells Fargo & Company in a research report on Monday, January 8th. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $54.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Odeon Capital Group lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective on the stock. in a research note on Thursday, January 18th. Raymond James boosted their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 16th. Finally, Barclays lifted their target price on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Ten analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $51.43.
View Our Latest Stock Analysis on Wells Fargo & Company
Wells Fargo & Company Price Performance
Wells Fargo & Company stock traded up $0.89 during mid-day trading on Wednesday, reaching $52.66. 18,354,802 shares of the company’s stock traded hands, compared to its average volume of 18,754,816. The company has a market cap of $191.24 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 1.08 and a beta of 1.18. The stock has a 50 day moving average of $49.24 and a two-hundred day moving average of $44.48. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. Wells Fargo & Company has a 12-month low of $35.25 and a 12-month high of $52.68.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.30 billion. Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. Wells Fargo & Company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 EPS. Equities analysts forecast that Wells Fargo & Company will post 4.72 earnings per share for the current year.
Wells Fargo & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 2nd will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Thursday, February 1st. Wells Fargo & Company’s payout ratio is 29.05%.
Wells Fargo & Company Profile
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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