Natixis Increases Position in Wells Fargo & Company (NYSE:WFC)

Natixis increased its holdings in Wells Fargo & Company (NYSE:WFC) by 14.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,140,934 shares of the financial services provider’s stock after buying an additional 145,678 shares during the quarter. Wells Fargo & Company makes up 0.5% of Natixis’ holdings, making the stock its 29th biggest holding. Natixis’ holdings in Wells Fargo & Company were worth $80,139,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WFC. Norges Bank purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $3,365,658,000. Dimensional Fund Advisors LP lifted its holdings in Wells Fargo & Company by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider’s stock valued at $1,430,742,000 after purchasing an additional 238,131 shares in the last quarter. Capital Research Global Investors grew its position in shares of Wells Fargo & Company by 932.0% in the fourth quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider’s stock valued at $1,105,218,000 after purchasing an additional 14,210,193 shares during the period. Capital World Investors increased its stake in shares of Wells Fargo & Company by 0.4% during the fourth quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider’s stock worth $977,338,000 after purchasing an additional 62,099 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock worth $441,983,000 after purchasing an additional 575,892 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.0 %

Shares of NYSE:WFC opened at $64.63 on Friday. The firm has a market capitalization of $211.02 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm’s 50-day moving average is $71.23 and its two-hundred day moving average is $71.05.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.15 billion during the quarter, compared to analysts’ expectations of $20.82 billion. During the same quarter last year, the company posted $1.20 EPS. The firm’s revenue was down 3.4% compared to the same quarter last year. Analysts predict that Wells Fargo & Company will post 5.89 EPS for the current 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 issued a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.48%. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.73%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Truist Financial reduced their target price on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 14th. Barclays lowered their price target on shares of Wells Fargo & Company from $92.00 to $87.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Raymond James cut their price objective on shares of Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating for the company in a report on Monday, April 14th. Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, April 14th. Finally, Piper Sandler cut their price target on Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average target price of $75.34.

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.