74,304 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by Aware Super Pty Ltd as trustee of Aware Super

Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 74,304 shares of the financial services provider’s stock, valued at approximately $5,219,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $26,000. Investment Counsel Co. of Nevada purchased a new stake in Wells Fargo & Company in the 4th quarter worth $28,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $30,000. Finally, Rakuten Securities Inc. increased its holdings in shares of Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $63.17 on Tuesday. The stock’s 50-day moving average is $72.49 and its 200 day moving average is $71.02. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. 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 company has a market cap of $206.26 billion, a P/E ratio of 11.74, a PEG ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.15 billion for the quarter, compared to analysts’ expectations of $20.82 billion. During the same period last year, the business earned $1.20 EPS. The company’s revenue was down 3.4% compared to the same quarter last year. Research analysts predict 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. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 28.73%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Bank of America cut their price target on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Thursday, March 13th. Morgan Stanley upped their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, April 7th. Truist Financial cut their target price on Wells Fargo & Company from $84.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Raymond James decreased their price target on Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating for the company in a research note on Monday. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.88.

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.