Leavell Investment Management Inc. Increases Position in Wells Fargo & Company (NYSE:WFC)

Leavell Investment Management Inc. grew its holdings in Wells Fargo & Company (NYSE:WFC) by 8.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,132 shares of the financial services provider’s stock after purchasing an additional 1,790 shares during the quarter. Leavell Investment Management Inc.’s holdings in Wells Fargo & Company were worth $1,625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WFC. Two Sigma Advisers LP raised its holdings in shares of 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 acquiring an additional 5,237,500 shares during the period. Canoe Financial LP acquired a new stake in Wells Fargo & Company during the third quarter worth about $160,529,000. Caisse DE Depot ET Placement DU Quebec raised its stake in Wells Fargo & Company by 158.1% during the third 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 during the period. Artemis Investment Management LLP boosted its holdings in 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 valued at $96,567,000 after purchasing an additional 1,105,679 shares during the last quarter. Finally, National Pension Service grew 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 valued at $383,532,000 after buying an additional 897,195 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Compass Point upped their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Barclays increased their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Truist Financial upped their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Eleven investment 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.com, the company has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Down 0.5 %

NYSE:WFC opened at $79.22 on Thursday. Wells Fargo & Company has a 12-month low of $47.59 and a 12-month high of $81.50. The firm has a market cap of $263.76 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a fifty day moving average price of $74.08 and a 200 day moving average price of $65.78.

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, beating the consensus estimate 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 business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the business posted $0.86 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. Sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.02%. 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.