Mediolanum International Funds Ltd Has $57.03 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Mediolanum International Funds Ltd lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 120.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 812,001 shares of the financial services provider’s stock after acquiring an additional 442,935 shares during the period. Wells Fargo & Company accounts for about 0.7% of Mediolanum International Funds Ltd’s portfolio, making the stock its 24th largest position. Mediolanum International Funds Ltd’s holdings in Wells Fargo & Company were worth $57,033,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. National Pension Service increased its position in shares of Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after purchasing an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in shares of Wells Fargo & Company by 2.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after purchasing an additional 162,066 shares during the period. Nordea Investment Management AB raised its holdings in shares of Wells Fargo & Company by 10.1% in the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after acquiring an additional 575,892 shares in the last quarter. Two Sigma Advisers LP raised its stake in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after purchasing an additional 5,237,500 shares in the last quarter. Finally, Canoe Financial LP bought a new stake in shares of Wells Fargo & Company during the 3rd quarter worth $160,529,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 0.7 %

Wells Fargo & Company stock opened at $78.89 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a market cap of $262.67 billion, a P/E ratio of 14.66, a P/E/G ratio of 1.18 and a beta of 1.18. The business has a 50-day simple moving average of $73.45 and a two-hundred day simple moving average of $64.48. Wells Fargo & Company has a 52-week low of $47.45 and a 52-week high of $79.24.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.86 EPS. Analysts predict that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WFC. Citigroup boosted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Truist Financial increased their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Evercore ISI upped their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler lifted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $73.39.

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.