3,614 Shares in Wells Fargo & Company (NYSE:WFC) Bought by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,614 shares of the financial services provider’s stock, valued at approximately $254,000.

Several other institutional investors have also modified their holdings of the stock. Rialto Wealth Management LLC purchased a new position in Wells Fargo & Company in the 4th quarter valued at about $26,000. Investment Counsel Co. of Nevada acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth approximately $28,000. Rakuten Securities Inc. boosted its stake in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares during the last quarter. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Finally, McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on WFC. Piper Sandler lowered 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 research report on Monday, April 14th. Morgan Stanley boosted their target price on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, April 7th. Truist Financial cut their price target 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. JPMorgan Chase & Co. lowered their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Finally, Raymond James cut their target price 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. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.34.

Wells Fargo & Company Stock Up 2.5 %

NYSE:WFC opened at $67.91 on Thursday. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The stock’s fifty day moving average is $70.44 and its two-hundred day moving average is $71.26. The stock has a market capitalization of $221.74 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. 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 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same quarter in the prior year, the company earned $1.20 EPS. Wells Fargo & Company’s revenue was down 3.4% on a year-over-year basis. Research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 28.73%.

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.