Wells Fargo & Company (NYSE:WFC) is KLCM Advisors Inc.’s 5th Largest Position

KLCM Advisors Inc. boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 436,203 shares of the financial services provider’s stock after buying an additional 7,288 shares during the period. Wells Fargo & Company makes up about 3.3% of KLCM Advisors Inc.’s investment portfolio, making the stock its 5th largest holding. KLCM Advisors Inc.’s holdings in Wells Fargo & Company were worth $21,470,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth $2,049,693,000. Northern Trust Corp lifted its position in Wells Fargo & Company by 0.3% during the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock valued at $1,560,755,000 after purchasing an additional 129,300 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in Wells Fargo & Company by 129,312.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock valued at $1,085,410,000 after purchasing an additional 26,267,166 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Wells Fargo & Company by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 21,901,706 shares of the financial services provider’s stock valued at $1,061,357,000 after purchasing an additional 64,080 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its position in Wells Fargo & Company by 1.9% during the third quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock valued at $746,484,000 after purchasing an additional 335,560 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of several research analyst reports. Barclays boosted their price objective on Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Jefferies Financial Group boosted their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Piper Sandler reduced their price objective on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Thirteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Stock Down 1.0 %

Shares of WFC traded down $0.56 during midday trading on Wednesday, reaching $56.41. The stock had a trading volume of 25,620,002 shares, compared to its average volume of 14,756,598. The company’s fifty day simple moving average is $55.25 and its two-hundred day simple moving average is $48.55. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $58.44. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market cap of $199.71 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.15 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same period last year, the firm posted $1.23 EPS. Wells Fargo & Company’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 4.86 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s payout ratio is 29.23%.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.