Barrow Hanley Mewhinney & Strauss LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 31.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,085,980 shares of the financial services provider's stock after selling 2,364,299 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned 0.15% of Wells Fargo & Company worth $357,239,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in Wells Fargo & Company in the 4th quarter worth approximately $3,365,658,000. Two Sigma Advisers LP boosted its position in shares of 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 worth $336,375,000 after buying an additional 5,237,500 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at $117,026,000. Caisse DE Depot ET Placement DU Quebec raised its position in Wells Fargo & Company by 158.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider's stock valued at $153,069,000 after buying an additional 1,659,716 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Wells Fargo & Company during the 4th quarter worth about $85,031,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.
Wells Fargo & Company Price Performance
Shares of WFC traded up $1.16 during trading hours on Monday, hitting $71.85. The stock had a trading volume of 14,851,165 shares, compared to its average volume of 17,131,321. The stock has a market capitalization of $234.59 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company's fifty day moving average is $75.84 and its two-hundred day moving average is $70.14. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50.
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 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company's revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 EPS. On average, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.
Wells Fargo & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.23%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's payout ratio is presently 29.74%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on WFC. Piper Sandler upped their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. UBS Group upped their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Truist Financial boosted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Morgan Stanley boosted 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. Finally, Compass Point raised their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Wells Fargo & Company currently has an average rating of "Moderate Buy" and a consensus price target of $74.97.
View Our Latest Analysis on WFC
Wells Fargo & Company Company Profile
(
Free Report)
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.
Read More
Before you consider Wells Fargo & Company, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wells Fargo & Company wasn't on the list.
While Wells Fargo & Company currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
