DMKC Advisory Services LLC Makes New $3.98 Million Investment in Wells Fargo & Company (NYSE:WFC)

DMKC Advisory Services LLC 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 SEC. The institutional investor purchased 56,679 shares of the financial services provider's stock, valued at approximately $3,981,000. Wells Fargo & Company makes up 3.6% of DMKC Advisory Services LLC's holdings, making the stock its 7th largest holding.

Several other large investors also recently modified their holdings of the stock. National Pension Service boosted its stake in Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock worth $383,532,000 after acquiring an additional 897,195 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Wells Fargo & Company by 2.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider's stock valued at $375,183,000 after purchasing an additional 162,066 shares during the period. Nordea Investment Management AB boosted its position in shares of Wells Fargo & Company by 10.1% during the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock worth $441,983,000 after purchasing an additional 575,892 shares in the last quarter. Two Sigma Advisers LP grew its stake 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 during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Wells Fargo & Company by 158.1% in the 3rd 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. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $75.95 on Wednesday. The business's fifty day simple moving average is $75.40 and its 200 day simple moving average is $67.44. 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 has a 12 month low of $50.15 and a 12 month high of $81.50. The firm has a market capitalization of $252.87 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its 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 company 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 12.38% and a net margin of 15.73%. The business's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company's dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

WFC has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their price target on 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. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Truist Financial lifted their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Piper Sandler upped their price objective on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Finally, Citigroup raised their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of "Hold" and an average price target of $73.39.

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.

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