Longbow Finance SA Raises Stake in Wells Fargo & Company (NYSE:WFC)

Longbow Finance SA grew its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 90.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 157,710 shares of the financial services provider's stock after buying an additional 74,784 shares during the quarter. Wells Fargo & Company accounts for 1.2% of Longbow Finance SA's investment portfolio, making the stock its 20th largest position. Longbow Finance SA's holdings in Wells Fargo & Company were worth $11,078,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company during the fourth quarter worth about $30,000. Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at approximately $35,000. Finally, BankPlus Trust Department purchased a new position in Wells Fargo & Company in the fourth quarter worth approximately $35,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WFC shares. Morgan Stanley upped their target price 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. Truist Financial raised their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, January 16th. UBS Group lifted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a report on Monday, December 9th. Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Finally, Piper Sandler increased their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $73.39.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC traded up $0.39 during midday trading on Wednesday, reaching $76.39. 13,362,296 shares of the company were exchanged, compared to its average volume of 15,064,693. The stock has a market cap of $254.34 billion, a P/E ratio of 14.20, a PEG ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The stock has a fifty day simple moving average of $75.40 and a 200 day simple moving average of $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 (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 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 company had revenue of $20.38 billion during the quarter, compared to analysts' expectations of $20.58 billion. During the same quarter last year, the business earned $0.86 EPS. The business's revenue was down .5% on a year-over-year basis. On average, research analysts forecast 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 declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Friday, February 7th. 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.