Wells Fargo & Company (NYSE:WFC) Stake Raised by RNC Capital Management LLC

RNC Capital Management LLC boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 129.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,476 shares of the financial services provider’s stock after acquiring an additional 25,127 shares during the quarter. RNC Capital Management LLC’s holdings in Wells Fargo & Company were worth $3,124,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. National Pension Service raised its position in Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after acquiring an additional 897,195 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Wells Fargo & Company by 2.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after acquiring an additional 162,066 shares in the last quarter. Nordea Investment Management AB raised its holdings in Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after buying an additional 575,892 shares during the period. Two Sigma Advisers LP raised its holdings in Wells Fargo & Company by 730.4% during 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 buying an additional 5,237,500 shares during the period. Finally, Canoe Financial LP acquired a new stake in Wells Fargo & Company during the 3rd quarter worth about $160,529,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 1.7 %

Shares of WFC stock opened at $81.45 on Friday. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $81.50. The firm has a market cap of $271.18 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. The stock has a 50 day moving average of $73.72 and a 200-day moving average of $65.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

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 analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the company earned $0.86 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts predict that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.96%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Analysts Set New Price Targets

Several analysts have issued reports on WFC shares. Truist Financial boosted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. The Goldman Sachs Group boosted their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. UBS Group boosted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Compass Point boosted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Finally, Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & 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.