Financiere des Professionnels Fonds d investissement inc. Purchases New Position in Wells Fargo & Company (NYSE:WFC)

Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,575 shares of the financial services provider's stock, valued at approximately $1,656,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. V Square Quantitative Management LLC raised its holdings in shares of Wells Fargo & Company by 8.3% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,993 shares of the financial services provider's stock worth $226,000 after buying an additional 305 shares in the last quarter. Inspire Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter valued at about $299,000. First Citizens Bank & Trust Co. grew its holdings in shares of Wells Fargo & Company by 1.5% during the third quarter. First Citizens Bank & Trust Co. now owns 37,977 shares of the financial services provider's stock worth $2,145,000 after purchasing an additional 564 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its stake in shares of Wells Fargo & Company by 2.5% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 29,958 shares of the financial services provider's stock valued at $1,692,000 after buying an additional 737 shares during the period. Finally, Revolve Wealth Partners LLC raised its holdings in Wells Fargo & Company by 7.4% in the 3rd quarter. Revolve Wealth Partners LLC now owns 4,391 shares of the financial services provider's stock valued at $248,000 after buying an additional 302 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Down 2.1 %

Shares of NYSE WFC traded down $1.66 during trading on Thursday, hitting $78.69. The stock had a trading volume of 14,800,325 shares, compared to its average volume of 15,174,527. The firm has a fifty day moving average of $74.90 and a two-hundred day moving average of $66.64. The company has a market capitalization of $262.00 billion, a PE ratio of 14.63, a PEG ratio of 1.21 and a beta of 1.18. 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 12 month low of $50.15 and a 12 month high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the business posted $0.86 EPS. The company's revenue for the quarter was down .5% on a year-over-year basis. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company's dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

WFC has been the topic of several analyst reports. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Truist Financial raised their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Compass Point increased their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. The Goldman Sachs Group upped 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 report on Friday, December 6th. Finally, Barclays lifted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $73.39.

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.