von Borstel & Associates Inc. Takes Position in Wells Fargo & Company (NYSE:WFC)

von Borstel & Associates Inc. acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,950 shares of the financial services provider’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Two Sigma Advisers LP lifted its holdings 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 buying an additional 5,237,500 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Wells Fargo & Company by 158.1% in the 3rd 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 in the last quarter. Artemis Investment Management LLP lifted its stake in shares of Wells Fargo & Company by 410.8% in the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after purchasing an additional 1,105,679 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Wells Fargo & Company by 81.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock valued at $111,914,000 after purchasing an additional 889,953 shares in the last quarter. Finally, KBC Group NV grew its stake in Wells Fargo & Company by 63.1% during the fourth quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider’s stock worth $137,832,000 after purchasing an additional 758,893 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WFC has been the topic of a number of research analyst reports. Compass Point increased their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Thursday, March 13th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Finally, Barclays boosted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus price target of $74.39.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $72.51 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a market cap of $238.43 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The stock’s fifty day simple moving average is $75.95 and its two-hundred day simple moving average is $69.34. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

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, beating analysts’ consensus estimates 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 company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same period last year, the firm earned $0.86 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. As a group, analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 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.