denkapparat Operations GmbH Invests $934,000 in Wells Fargo & Company (NYSE:WFC)

denkapparat Operations GmbH purchased a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,298 shares of the financial services provider's stock, valued at approximately $934,000. Wells Fargo & Company makes up about 1.4% of denkapparat Operations GmbH's investment portfolio, making the stock its 8th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Orion Portfolio Solutions LLC grew its holdings in shares of Wells Fargo & Company by 8.4% in the fourth quarter. Orion Portfolio Solutions LLC now owns 154,601 shares of the financial services provider's stock valued at $10,859,000 after purchasing an additional 12,028 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Wells Fargo & Company by 12.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,507,766 shares of the financial services provider's stock valued at $105,905,000 after buying an additional 164,308 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth $4,629,000. Norges Bank purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth $3,365,658,000. Finally, Loomis Sayles & Co. L P raised its stake in shares of Wells Fargo & Company by 16.5% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,384 shares of the financial services provider's stock valued at $97,000 after acquiring an additional 196 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

WFC has been the subject of a number of analyst reports. Compass Point upped their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Citigroup dropped their target price on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Finally, Truist Financial lifted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of "Moderate Buy" and a consensus price target of $74.97.

Wells Fargo & Company Stock Performance

WFC traded up $0.56 on Monday, hitting $71.25. 3,635,996 shares of the company traded hands, compared to its average volume of 15,856,677. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a 50 day moving average of $75.84 and a 200-day moving average of $70.14. The stock has a market capitalization of $232.64 billion, a PE ratio of 13.25, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $20.58 billion. During the same period in the prior year, the company posted $0.86 earnings per share. The firm's revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share 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 dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.74%.

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.