Busey Bank Decreases Stock Position in Wells Fargo & Company (NYSE:WFC)

Busey Bank lessened its stake in Wells Fargo & Company (NYSE:WFC) by 9.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,348 shares of the financial services provider’s stock after selling 1,697 shares during the period. Busey Bank’s holdings in Wells Fargo & Company were worth $1,148,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in WFC. Two Sigma Advisers LP grew its position in Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after purchasing an additional 5,237,500 shares during the period. Canoe Financial LP bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at $160,529,000. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Wells Fargo & Company by 158.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after purchasing an additional 1,659,716 shares in the last quarter. Artemis Investment Management LLP increased its stake in shares of Wells Fargo & Company by 410.8% in the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after purchasing an additional 1,105,679 shares in the last quarter. Finally, National Pension Service increased its stake in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after purchasing an additional 897,195 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WFC shares. Evercore ISI upped their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Barclays upped their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Truist Financial upped their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Citigroup increased their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, UBS Group increased their price target 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. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Up 0.7 %

Shares of NYSE WFC opened at $78.41 on Thursday. 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 company has a market cap of $261.07 billion, a P/E ratio of 14.57, a PEG ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.98. The firm has a 50-day simple moving average of $73.35 and a two-hundred day simple moving average of $64.38.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. Research analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.