Oddo BHF Asset Management Sas Boosts Stake in Wells Fargo & Company $WFC

Oddo BHF Asset Management Sas boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 14.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 61,498 shares of the financial services provider’s stock after purchasing an additional 7,764 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in Wells Fargo & Company were worth $5,732,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Private Wealth Group LLC increased its stake in Wells Fargo & Company by 2.5% in the 4th quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock worth $421,000 after buying an additional 108 shares in the last quarter. Nixon Peabody Trust Co. increased its stake in Wells Fargo & Company by 3.6% in the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after buying an additional 115 shares in the last quarter. Simmons Bank increased its stake in Wells Fargo & Company by 1.9% in the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after buying an additional 116 shares in the last quarter. Moss Adams Wealth Advisors LLC increased its stake in Wells Fargo & Company by 1.0% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after buying an additional 117 shares in the last quarter. Finally, D Orazio & Associates Inc. increased its stake in Wells Fargo & Company by 3.6% in the 3rd quarter. D Orazio & Associates Inc. now owns 3,436 shares of the financial services provider’s stock worth $288,000 after buying an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WFC shares. Truist Financial cut their price target on Wells Fargo & Company from $98.00 to $94.00 and set a “buy” rating for the company in a research note on Tuesday, March 17th. HSBC upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a research note on Wednesday, April 1st. Keefe, Bruyette & Woods cut their price target on Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating for the company in a research note on Wednesday, April 15th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, Barclays cut their price objective on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, April 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $97.53.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $83.18 on Tuesday. The company’s 50 day moving average is $79.61 and its 200 day moving average is $84.65. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. Wells Fargo & Company has a 52-week low of $72.30 and a 52-week high of $97.76. The firm has a market cap of $254.56 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.98 and a beta of 0.93.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.02. The business had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 earnings per share. On average, sell-side analysts anticipate that Wells Fargo & Company will post 6.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s payout ratio is presently 27.78%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.