Burney Co. Grows Stake in Wells Fargo & Company (NYSE:WFC)

Burney Co. boosted its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 102.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,907 shares of the financial services provider's stock after buying an additional 37,324 shares during the period. Burney Co.'s holdings in Wells Fargo & Company were worth $5,191,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Two Sigma Advisers LP boosted its holdings in shares of Wells Fargo & Company by 730.4% in the 3rd 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 in the last quarter. Canoe Financial LP purchased a new position in Wells Fargo & Company in the third quarter worth $160,529,000. Marshall Wace LLP increased its position in shares of Wells Fargo & Company by 3,295.6% during the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider's stock worth $138,493,000 after purchasing an additional 2,404,898 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of 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 worth $153,069,000 after purchasing an additional 1,659,716 shares in the last quarter. Finally, National Pension Service lifted its holdings in shares of Wells Fargo & Company by 15.2% during the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock valued at $383,532,000 after purchasing an additional 897,195 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Barclays upped their price objective on shares of Wells Fargo & Company from $75.00 to $90.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Keefe, Bruyette & Woods lifted their target price on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the stock a "market perform" rating in a research note on Tuesday, December 3rd. Truist Financial assumed coverage on shares of Wells Fargo & Company in a research report on Tuesday, January 7th. They set a "buy" rating and a $82.00 target price on the stock. Finally, The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Twelve investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $69.92.

Wells Fargo & Company Stock Performance

WFC stock traded up $4.67 during midday trading on Wednesday, hitting $75.86. 33,248,462 shares of the stock traded hands, compared to its average volume of 15,895,781. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock's fifty day simple moving average is $72.41 and its 200-day simple moving average is $63.15. The firm has a market cap of $252.58 billion, a P/E ratio of 15.77, a PEG ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company's quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the firm earned $0.86 EPS. On average, analysts expect that Wells Fargo & Company will post 5.43 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company's payout ratio is 33.26%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.