Mizuho Securities USA LLC Has $22.17 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Mizuho Securities USA LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 43.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 315,560 shares of the financial services provider’s stock after buying an additional 94,844 shares during the quarter. Mizuho Securities USA LLC’s holdings in Wells Fargo & Company were worth $22,165,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Fi3 FINANCIAL ADVISORS LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $271,000. Virtu Financial LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $1,892,000. von Borstel & Associates Inc. bought a new position in Wells Fargo & Company during the fourth quarter worth about $207,000. Millstone Evans Group LLC bought a new position in Wells Fargo & Company during the fourth quarter worth about $95,000. Finally, Washington Trust Bank boosted its holdings in Wells Fargo & Company by 16.7% during the fourth quarter. Washington Trust Bank now owns 18,359 shares of the financial services provider’s stock worth $1,290,000 after buying an additional 2,622 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WFC. Truist Financial raised their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Royal Bank of Canada upgraded 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. Piper Sandler lifted their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Finally, Compass Point lifted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.39.

Wells Fargo & Company Stock Down 0.0 %

NYSE:WFC opened at $72.51 on Friday. The firm has a market capitalization of $238.43 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The stock’s 50 day moving average price is $75.95 and its two-hundred day moving average price is $69.34. 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 (NYSE:WFC) last posted its quarterly earnings results 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. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 EPS. Equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) 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.