Capital World Investors Purchases 62,099 Shares of Wells Fargo & Company (NYSE:WFC)

Capital World Investors increased its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,914,098 shares of the financial services provider's stock after purchasing an additional 62,099 shares during the quarter. Capital World Investors owned 0.42% of Wells Fargo & Company worth $977,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in WFC. Carbahal Olsen Financial Services Group LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $303,000. Claret Asset Management Corp acquired a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $239,000. Coastline Trust Co lifted its holdings in Wells Fargo & Company by 7.7% during the 4th quarter. Coastline Trust Co now owns 6,648 shares of the financial services provider's stock worth $467,000 after buying an additional 476 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Wells Fargo & Company by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider's stock worth $1,430,742,000 after acquiring an additional 238,131 shares in the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in shares of Wells Fargo & Company by 10.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 309,869 shares of the financial services provider's stock valued at $21,765,000 after acquiring an additional 28,931 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Shares of WFC traded up $1.52 during mid-day trading on Thursday, hitting $69.46. 6,998,814 shares of the company traded hands, compared to its average volume of 17,681,783. The business has a 50-day moving average of $70.44 and a 200 day moving average of $71.26. The stock has a market capitalization of $226.81 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a one year low of $50.15 and a one 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.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. The firm's revenue was down 3.4% on a year-over-year basis. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.30%. Wells Fargo & Company's dividend payout ratio is 28.73%.

Wall Street Analyst Weigh In

Several analysts have weighed in on WFC shares. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research note on Thursday, January 16th. Bank of America lowered their price objective on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Raymond James cut their target price on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating on the stock in a report on Monday, April 14th. Morgan Stanley increased their price target on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Finally, Truist Financial reduced their price target on shares of Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 14th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of "Moderate Buy" and an average price target of $75.34.

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.