Narus Financial Partners LLC Raises Holdings in Wells Fargo & Company (NYSE:WFC)

Narus Financial Partners LLC raised its holdings in Wells Fargo & Company (NYSE:WFC) by 19.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,773 shares of the financial services provider’s stock after purchasing an additional 773 shares during the period. Narus Financial Partners LLC’s holdings in Wells Fargo & Company were worth $335,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of WFC. Two Sigma Advisers LP increased its stake in Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after buying an additional 5,237,500 shares during the period. Canoe Financial LP acquired a new position in shares of Wells Fargo & Company in the third quarter worth $160,529,000. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Wells Fargo & Company by 158.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after acquiring an additional 1,659,716 shares during the period. Artemis Investment Management LLP raised its stake in shares of Wells Fargo & Company by 410.8% in the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after acquiring an additional 1,105,679 shares in the last quarter. Finally, National Pension Service boosted its holdings in Wells Fargo & Company by 15.2% in the third 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 period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Truist Financial raised their target price on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. UBS Group lifted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Trading Up 0.7 %

Shares of WFC stock opened at $78.89 on Friday. The business’s fifty day moving average price is $73.45 and its 200 day moving average price is $64.48. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $262.67 billion, a PE ratio of 14.66, a P/E/G ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $79.24.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the business posted $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

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.