Field & Main Bank Acquires 368 Shares of Wells Fargo & Company (NYSE:WFC)

Field & Main Bank boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,250 shares of the financial services provider’s stock after purchasing an additional 368 shares during the quarter. Field & Main Bank’s holdings in Wells Fargo & Company were worth $579,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Cardinal Capital Management Inc. increased its holdings in shares of Wells Fargo & Company by 2.0% during the third quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock valued at $32,505,000 after acquiring an additional 11,037 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Wells Fargo & Company by 37.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock valued at $36,055,000 after purchasing an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp raised its holdings in Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock worth $10,031,000 after buying an additional 26,320 shares during the last quarter. Chartwell Investment Partners LLC lifted its stake in shares of Wells Fargo & Company by 16.4% in the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock valued at $7,504,000 after buying an additional 18,717 shares in the last quarter. Finally, Argus Investors Counsel Inc. grew its holdings in shares of Wells Fargo & Company by 34.6% during the third quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock valued at $1,780,000 after buying an additional 8,107 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WFC. Keefe, Bruyette & Woods upped their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. UBS Group lifted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Evercore ISI increased their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup lifted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price target on shares of Wells Fargo & Company in a research report on Monday, October 14th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Price Performance

NYSE:WFC traded up $0.71 during mid-day trading on Wednesday, reaching $78.59. The stock had a trading volume of 790,030 shares, compared to its average volume of 14,758,868. The stock has a market capitalization of $261.66 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.17 and a beta of 1.18. The firm has a 50 day moving average price of $73.35 and a two-hundred day moving average price of $64.38. 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 one year low of $47.45 and a one year high of $78.59.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share. As a group, analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. Wells Fargo & Company’s dividend payout ratio is presently 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.