Wells Fargo & Company (NYSE:WFC) Shares Acquired by Callan Capital LLC

Callan Capital LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,397 shares of the financial services provider’s stock after acquiring an additional 373 shares during the period. Callan Capital LLC’s holdings in Wells Fargo & Company were worth $449,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of WFC. Two Sigma Advisers LP increased its stake in shares of Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after purchasing an additional 5,237,500 shares in the last quarter. Canoe Financial LP purchased a new stake in shares of Wells Fargo & Company during the third quarter worth about $160,529,000. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Wells Fargo & Company by 158.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after purchasing an additional 1,659,716 shares in the last quarter. Artemis Investment Management LLP increased its stake in shares of Wells Fargo & Company by 410.8% during the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after purchasing an additional 1,105,679 shares in the last quarter. Finally, National Pension Service increased its stake in shares of Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after purchasing an additional 897,195 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Keefe, Bruyette & Woods upped their price objective 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. Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, UBS Group upped their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Price Performance

Shares of WFC opened at $77.43 on Friday. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The firm’s fifty day simple moving average is $75.20 and its 200-day simple moving average is $67.01. The firm has a market capitalization of $257.81 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.18 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period last year, the business earned $0.86 EPS. The company’s revenue was down .5% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. Wells Fargo & Company’s payout ratio is 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.