Sumitomo Mitsui DS Asset Management Company Ltd Has $29.92 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 425,905 shares of the financial services provider’s stock after purchasing an additional 15,690 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Wells Fargo & Company were worth $29,916,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Truvestments Capital LLC bought a new position in Wells Fargo & Company in the 3rd quarter worth about $29,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at $32,000. MidAtlantic Capital Management Inc. purchased a new stake in Wells Fargo & Company during the third quarter valued at $34,000. Finally, FSA Wealth Management LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter worth approximately $34,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 1.7 %

WFC opened at $81.45 on Friday. The company has a market cap of $271.18 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. The firm has a 50 day simple moving average of $73.72 and a 200 day simple moving average of $65.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a fifty-two week low of $47.45 and a fifty-two week high of $81.50.

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

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 1.96%. Wells Fargo & Company’s payout ratio is 29.74%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WFC shares. Piper Sandler raised their price objective on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Morgan Stanley lifted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Compass Point upped their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Evercore ISI upped their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to 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.