Wealth Dimensions Group Ltd. Acquires Shares of 2,995 Wells Fargo & Company (NYSE:WFC)

Wealth Dimensions Group Ltd. bought a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,995 shares of the financial services provider’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors also recently modified their holdings of WFC. Norges Bank acquired a new stake in Wells Fargo & Company in the fourth quarter valued at about $3,365,658,000. Capital Research Global Investors boosted its stake in shares of Wells Fargo & Company by 932.0% in the 4th 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 in the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at approximately $117,026,000. KLP Kapitalforvaltning AS acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $85,031,000. Finally, Korea Investment CORP lifted its stake in Wells Fargo & Company by 53.9% in the 4th quarter. Korea Investment CORP now owns 3,286,809 shares of the financial services provider’s stock valued at $230,865,000 after purchasing an additional 1,150,443 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Truist Financial lowered their price target on shares of Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating for the company in a report on Monday, April 14th. Raymond James lowered their price objective on Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating for the company in a research note on Monday, April 14th. Citigroup decreased their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Piper Sandler cut their price target on shares of Wells Fargo & Company from $77.00 to $75.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Finally, Keefe, Bruyette & Woods raised their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.34.

Wells Fargo & Company Trading Up 1.0 %

Shares of WFC stock opened at $64.63 on Monday. The company has a market cap of $211.02 billion, a P/E ratio of 12.01, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The stock has a 50 day simple moving average of $71.23 and a two-hundred day simple moving average of $71.27. 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 (NYSE:WFC) last issued its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.16. The business had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 earnings per share. Research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 28.73%.

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.