Zurcher Kantonalbank Zurich Cantonalbank Has $80.82 Million Stake in Wells Fargo & Company (NYSE:WFC)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Wells Fargo & Company (NYSE:WFC) by 12.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,150,595 shares of the financial services provider’s stock after buying an additional 122,899 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Wells Fargo & Company were worth $80,818,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Leavell Investment Management Inc. grew its holdings in shares of Wells Fargo & Company by 1.3% during the 3rd quarter. Leavell Investment Management Inc. now owns 21,342 shares of the financial services provider’s stock valued at $1,206,000 after purchasing an additional 281 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at approximately $2,300,000. Assetmark Inc. grew its holdings in shares of Wells Fargo & Company by 5.6% during the 3rd quarter. Assetmark Inc. now owns 382,717 shares of the financial services provider’s stock valued at $21,620,000 after purchasing an additional 20,149 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Wells Fargo & Company by 1.7% during the 3rd quarter. Lindbrook Capital LLC now owns 21,019 shares of the financial services provider’s stock valued at $1,187,000 after purchasing an additional 345 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its holdings in shares of Wells Fargo & Company by 111.1% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 34,464 shares of the financial services provider’s stock valued at $1,947,000 after purchasing an additional 18,138 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 2.3 %

Wells Fargo & Company stock opened at $71.01 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The firm’s fifty day moving average is $76.10 and its 200 day moving average is $68.59. The company has a market capitalization of $233.50 billion, a PE ratio of 13.20, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. The business’s revenue was down .5% on a year-over-year basis. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.25%. Wells Fargo & Company’s payout ratio is 29.74%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WFC shares. Piper Sandler boosted their target price 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. Compass Point boosted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. UBS Group boosted their target price 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. Truist Financial boosted their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $73.39.

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.