Vanguard Personalized Indexing Management LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 12.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 197,946 shares of the financial services provider's stock after purchasing an additional 22,568 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Wells Fargo & Company were worth $8,088,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Defender Capital LLC. bought a new position in shares of Wells Fargo & Company in the first quarter valued at approximately $246,000. Fairfield Bush & CO. bought a new position in shares of Wells Fargo & Company in the first quarter valued at approximately $124,000. Dakota Wealth Management bought a new position in shares of Wells Fargo & Company in the first quarter valued at approximately $222,000. Candriam Luxembourg S.C.A. boosted its holdings in shares of Wells Fargo & Company by 0.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 273,936 shares of the financial services provider's stock valued at $13,274,000 after acquiring an additional 770 shares in the last quarter. Finally, Zions Bancorporation N.A. boosted its holdings in Wells Fargo & Company by 24.5% during the first quarter. Zions Bancorporation N.A. now owns 9,630 shares of the financial services provider's stock worth $467,000 after buying an additional 1,895 shares in the last quarter. Institutional investors own 72.47% of the company's stock.
Insider Transactions at Wells Fargo & Company
In other Wells Fargo & Company news, Director Richard K. Davis acquired 3,500 shares of the business's stock in a transaction that occurred on Thursday, November 9th. The stock was acquired at an average price of $41.22 per share, with a total value of $144,270.00. Following the transaction, the director now owns 4,244 shares of the company's stock, valued at $174,937.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by corporate insiders.
Wells Fargo & Company Stock Down 0.6 %
Shares of Wells Fargo & Company stock traded down $0.28 during midday trading on Tuesday, reaching $48.42. 6,354,751 shares of the company's stock traded hands, compared to its average volume of 18,225,098. The company has a market cap of $175.84 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 1.02 and a beta of 1.18. The company's 50 day simple moving average is $48.20 and its 200 day simple moving average is $44.17. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88. Wells Fargo & Company has a 52 week low of $35.25 and a 52 week high of $51.44.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The business had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.30 billion. During the same quarter in the prior year, the business posted $0.67 EPS. The firm's revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Company will post 4.72 earnings per share for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 2nd will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, February 1st. Wells Fargo & Company's dividend payout ratio is currently 29.05%.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Robert W. Baird restated a "neutral" rating and set a $55.00 target price on shares of Wells Fargo & Company in a report on Monday, January 8th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $54.00 to $63.00 and gave the company an "overweight" rating in a research report on Tuesday, January 30th. BMO Capital Markets upped their price target on shares of Wells Fargo & Company from $52.00 to $54.00 and gave the company a "market perform" rating in a research report on Monday, October 16th. Piper Sandler reduced their price target on shares of Wells Fargo & Company from $51.00 to $50.00 and set a "neutral" rating for the company in a research report on Tuesday, January 16th. Finally, Odeon Capital Group downgraded shares of Wells Fargo & Company from a "buy" rating to a "hold" rating and set a $48.80 target price for the company. in a research report on Thursday, January 18th. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $51.43.
Get Our Latest Research Report on WFC
Wells Fargo & Company Company Profile
(
Free Report)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
See Also
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