denkapparat Operations GmbH Invests $934,000 in Wells Fargo & Company (NYSE:WFC)

denkapparat Operations GmbH bought a new position in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 13,298 shares of the financial services provider’s stock, valued at approximately $934,000. Wells Fargo & Company makes up about 1.4% of denkapparat Operations GmbH’s investment portfolio, making the stock its 8th biggest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WFC. Norges Bank acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $3,365,658,000. Two Sigma Advisers LP grew its position 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 purchasing an additional 5,237,500 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $117,026,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Wells Fargo & Company by 158.1% in the third 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 in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $85,031,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WFC has been the subject of several research analyst reports. Barclays increased 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. UBS Group increased their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Compass Point upped their price objective 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. Piper Sandler upped their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Truist Financial boosted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average price target of $74.18.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $72.33 on Friday. The company has a market cap of $236.17 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.18 and a beta of 1.16. The business has a 50 day moving average price of $75.97 and a 200 day moving average price of $69.80. 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 has a twelve month low of $50.15 and a twelve month high of $81.50.

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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the company posted $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. Research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

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.