1,666,084 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,666,084 shares of the financial services provider's stock, valued at approximately $117,026,000. Artisan Partners Limited Partnership owned approximately 0.05% of Wells Fargo & Company at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Empowered Funds LLC grew its position in shares of Wells Fargo & Company by 19.1% during the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after acquiring an additional 30,510 shares during the period. Rockefeller Capital Management L.P. boosted its position in Wells Fargo & Company by 37.2% during the third quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock worth $36,055,000 after purchasing an additional 173,083 shares in the last quarter. Atlantic Union Bankshares Corp grew its position in shares of Wells Fargo & Company by 17.4% in the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock valued at $10,031,000 after purchasing an additional 26,320 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Wells Fargo & Company by 14.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider's stock worth $58,055,000 after purchasing an additional 131,322 shares in the last quarter. Finally, Valmark Advisers Inc. raised its position in shares of Wells Fargo & Company by 5.5% during the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock worth $583,000 after purchasing an additional 431 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

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Wells Fargo & Company Trading Down 2.2 %

Wells Fargo & Company stock traded down $1.57 during mid-day trading on Friday, hitting $70.71. The company's stock had a trading volume of 13,550,316 shares, compared to its average volume of 17,140,434. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. 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 firm has a market capitalization of $230.87 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The stock's fifty day moving average is $75.84 and its two-hundred day moving average is $70.03.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to analysts' expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company's revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. On average, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business 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 2.26%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is 29.74%.

Analyst Ratings Changes

Several equities research analysts have commented on WFC shares. Royal Bank of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a research note on Thursday, March 13th. Morgan Stanley boosted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Truist Financial raised their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, January 16th. UBS Group upped their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $74.97.

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.