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

Sanders Capital LLC raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,720 shares of the financial services provider’s stock after acquiring an additional 2,220 shares during the quarter. Sanders Capital LLC’s holdings in Wells Fargo & Company were worth $10,727,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. grew its holdings in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 237 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company during the fourth quarter valued at $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $62.36 on Friday. The firm’s 50-day moving average is $72.83 and its 200-day moving average is $70.87. The company has a market cap of $203.62 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.18 and a beta of 1.02. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same period in the previous year, the company posted $1.20 earnings per share. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent research reports. Barclays raised their price target 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. Bank of America reduced their target price on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Piper Sandler upgraded shares of Wells Fargo & Company from a “neutral” rating to an “overweight” rating and set a $77.00 price target on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods lifted 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 research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $75.66.

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.