Lingohr Asset Management GmbH Buys Shares of 16,081 Wells Fargo & Company (NYSE:WFC)

Lingohr Asset Management GmbH bought a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 16,081 shares of the financial services provider's stock, valued at approximately $1,127,000. Wells Fargo & Company accounts for 2.3% of Lingohr Asset Management GmbH's holdings, making the stock its 7th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WFC. Nordea Investment Management AB raised its stake in shares of Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider's stock valued at $441,983,000 after purchasing an additional 575,892 shares during the period. Two Sigma Advisers LP increased its stake in Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock worth $336,375,000 after buying an additional 5,237,500 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in Wells Fargo & Company by 158.1% during the 3rd 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 buying an additional 1,659,716 shares during the period. Teacher Retirement System of Texas lifted its holdings in Wells Fargo & Company by 14.1% in the 4th quarter. Teacher Retirement System of Texas now owns 2,229,521 shares of the financial services provider's stock worth $156,602,000 after buying an additional 274,886 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in Wells Fargo & Company by 81.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider's stock valued at $111,914,000 after buying an additional 889,953 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several research analysts recently commented on WFC shares. Royal Bank of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a research note on Thursday, March 13th. Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research report on Thursday, January 16th. Piper Sandler raised their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group raised their price objective 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. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $74.18.

Wells Fargo & Company Stock Performance

Shares of WFC traded up $1.76 during midday trading on Monday, hitting $74.28. 10,685,753 shares of the stock traded hands, compared to its average volume of 16,418,551. The business's 50 day moving average price is $76.03 and its two-hundred day moving average price is $69.62. The firm has a market capitalization of $244.25 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

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, topping the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analysts' expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company's quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. Equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's payout ratio is currently 29.74%.

About Wells Fargo & Company

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.