Exane Asset Management Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Exane Asset Management purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,332 shares of the financial services provider’s stock, valued at approximately $97,000. Wells Fargo & Company accounts for approximately 0.1% of Exane Asset Management’s holdings, making the stock its 24th biggest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cardinal Capital Management Inc. boosted its position in Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after acquiring an additional 11,037 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Wells Fargo & Company by 37.2% in the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock valued at $36,055,000 after purchasing an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp increased its stake in Wells Fargo & Company by 17.4% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock valued at $10,031,000 after buying an additional 26,320 shares during the last quarter. Chartwell Investment Partners LLC lifted its position in Wells Fargo & Company by 16.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock worth $7,504,000 after buying an additional 18,717 shares in the last quarter. Finally, Argus Investors Counsel Inc. boosted its stake in shares of Wells Fargo & Company by 34.6% during the 3rd quarter. Argus Investors Counsel Inc. now owns 31,514 shares of the financial services provider’s stock worth $1,780,000 after buying an additional 8,107 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on WFC. Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Piper Sandler boosted their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. The Goldman Sachs Group increased their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Citigroup boosted their price objective 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. Finally, UBS Group raised their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Trading Down 0.8 %

WFC stock opened at $80.76 on Friday. Wells Fargo & Company has a 52 week low of $47.47 and a 52 week high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company’s 50-day simple moving average is $73.80 and its 200 day simple moving average is $65.28. The company has a market capitalization of $268.89 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the company posted $0.86 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 1.98%. Wells Fargo & Company’s dividend 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.