FIL Ltd Acquires 104,136 Shares of Wells Fargo & Company (NYSE:WFC)

FIL Ltd increased its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,138,814 shares of the financial services provider's stock after buying an additional 104,136 shares during the period. FIL Ltd owned 0.12% of Wells Fargo & Company worth $290,710,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rialto Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $26,000. Rakuten Securities Inc. grew its holdings in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after buying an additional 237 shares during the last quarter. Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $30,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company in the 4th quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $32,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Down 1.2 %

Shares of NYSE:WFC traded down $0.75 during mid-day trading on Friday, hitting $62.36. The company had a trading volume of 33,841,324 shares, compared to its average volume of 17,637,613. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The firm has a fifty day moving average price of $72.83 and a 200 day moving average price of $70.87. The company has a market capitalization of $203.62 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced 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 firm had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. During the same quarter last year, the firm posted $1.20 earnings per share. The company's revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. Wells Fargo & Company's dividend payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Bank of America dropped their price objective on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Barclays boosted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Morgan Stanley raised their price objective 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. Truist Financial lowered their price objective on Wells Fargo & Company from $86.00 to $84.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Finally, JPMorgan Chase & Co. reduced their target price on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus price target of $75.66.

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.