Wells Fargo & Company (NYSE:WFC) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Wells Fargo & Company (NYSE:WFC) by 6.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,464,967 shares of the financial services provider’s stock after purchasing an additional 352,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Wells Fargo & Company were worth $389,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in WFC. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $26,000. Truvestments Capital LLC purchased a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $30,000. Finally, Rakuten Securities Inc. grew its position in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 237 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on WFC. Piper Sandler raised their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Keefe, Bruyette & Woods raised their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Citigroup dropped their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday. Barclays increased their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Truist Financial boosted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus price target of $74.18.

Wells Fargo & Company Stock Down 1.1 %

NYSE:WFC opened at $73.45 on Thursday. The stock’s 50 day moving average price is $76.04 and its two-hundred day moving average price is $69.79. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The firm has a market capitalization of $239.83 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results 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 business 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%. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 earnings per share. Equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Wells Fargo & Company 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.