Rockefeller Capital Management L.P. Raises Position in Wells Fargo & Company (NYSE:WFC)

Rockefeller Capital Management L.P. increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 661,690 shares of the financial services provider’s stock after buying an additional 23,457 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Wells Fargo & Company were worth $46,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Petros Family Wealth LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $461,000. Quinn Opportunity Partners LLC purchased a new stake in Wells Fargo & Company during the 4th quarter worth approximately $4,037,000. Integrity Financial Corp WA increased its stake in Wells Fargo & Company by 8.5% during the 4th quarter. Integrity Financial Corp WA now owns 11,751 shares of the financial services provider’s stock valued at $825,000 after purchasing an additional 920 shares in the last quarter. Glass Jacobson Investment Advisors llc raised its holdings in shares of Wells Fargo & Company by 40.3% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,795 shares of the financial services provider’s stock worth $126,000 after buying an additional 516 shares during the last quarter. Finally, Heritage Trust Co acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $1,036,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Thursday, March 13th. Piper Sandler upgraded Wells Fargo & Company from a “neutral” rating to an “overweight” rating and set a $77.00 price objective for the company in a research note on Tuesday, April 8th. Barclays upped their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, April 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.66.

Wells Fargo & Company Stock Down 1.2 %

Wells Fargo & Company stock opened at $62.36 on Friday. 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 stock has a market capitalization of $203.62 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The business has a 50 day simple moving average of $72.83 and a 200-day simple moving average of $70.87. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. The company had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 EPS. On average, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio 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.