Aware Super Pty Ltd as trustee of Aware Super Buys New Position in Wells Fargo & Company (NYSE:WFC)

Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 74,304 shares of the financial services provider’s stock, valued at approximately $5,219,000.

A number of other hedge funds have also added to or reduced their stakes in WFC. Rialto Wealth Management LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $26,000. Investment Counsel Co. of Nevada bought a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $28,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $30,000. Finally, Rakuten Securities Inc. lifted its stake in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 1.1 %

NYSE:WFC opened at $63.17 on Tuesday. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The business has a fifty day moving average price of $72.49 and a 200-day moving average price of $71.02. The firm has a market capitalization of $206.26 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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 firm had revenue of $20.15 billion for 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given 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 2.53%. Wells Fargo & Company’s payout ratio is currently 28.73%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WFC. Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Truist Financial lowered their price target on shares of Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Monday. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Thursday, March 13th. Citigroup lowered their target price on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Finally, Bank of America cut their price target on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus target price of $74.88.

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.