3,083 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by Keb Asset Management LLC

Keb Asset Management LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,083 shares of the financial services provider’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Two Sigma Advisers LP raised its holdings in shares of Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after acquiring an additional 5,237,500 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after purchasing an additional 1,659,716 shares during the period. Artemis Investment Management LLP lifted its holdings in shares of Wells Fargo & Company by 410.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after purchasing an additional 1,105,679 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Wells Fargo & Company by 81.6% in the third quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock worth $111,914,000 after buying an additional 889,953 shares during the period. Finally, KBC Group NV grew its holdings in shares of Wells Fargo & Company by 63.1% during the fourth quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider’s stock valued at $137,832,000 after buying an additional 758,893 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 2.3 %

Shares of WFC stock opened at $71.01 on Monday. The company has a market cap of $233.50 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The business’s 50 day moving average is $76.10 and its two-hundred day moving average is $68.59.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. Equities analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.25%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WFC. UBS Group increased their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods increased their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Piper Sandler boosted their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Compass Point lifted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company 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.