Capital World Investors Buys 62,099 Shares of Wells Fargo & Company (NYSE:WFC)

Capital World Investors boosted its stake in Wells Fargo & Company (NYSE:WFC) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,914,098 shares of the financial services provider’s stock after acquiring an additional 62,099 shares during the period. Capital World Investors’ holdings in Wells Fargo & Company were worth $977,338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WFC. Carbahal Olsen Financial Services Group LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $303,000. Claret Asset Management Corp acquired a new position in Wells Fargo & Company in the fourth quarter valued at $239,000. Coastline Trust Co boosted its position in Wells Fargo & Company by 7.7% during the fourth quarter. Coastline Trust Co now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 476 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Wells Fargo & Company by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider’s stock worth $1,430,742,000 after acquiring an additional 238,131 shares during the period. Finally, Epoch Investment Partners Inc. raised its position in shares of Wells Fargo & Company by 10.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 309,869 shares of the financial services provider’s stock worth $21,765,000 after acquiring an additional 28,931 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $64.63 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $211.02 billion, a PE ratio of 12.01, a PEG ratio of 1.18 and a beta of 1.02. The stock’s 50 day moving average price is $71.23 and its 200-day moving average price is $71.16. 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 Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. The firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.48%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 28.73%.

Analysts Set New Price Targets

Several brokerages recently commented on WFC. Raymond James cut their target price on Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating on the stock in a research report on Monday, April 14th. Truist Financial lowered their price objective on shares of Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Royal Bank of Canada raised shares of 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 note on Thursday, March 13th. JPMorgan Chase & Co. reduced their price target 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. Finally, Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, April 7th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.34.

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.