Wells Fargo & Company (NYSE:WFC) Holdings Raised by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 182,126 shares of the financial services provider's stock after acquiring an additional 10,563 shares during the quarter. NEOS Investment Management LLC's holdings in Wells Fargo & Company were worth $12,793,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WFC. 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. lifted its position in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 237 shares during the period. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on WFC shares. Truist Financial boosted their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted 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. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price for the company in a report on Thursday, March 13th. Citigroup reduced their price target on shares of 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, Compass Point raised their price objective 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. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.97.

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Wells Fargo & Company Stock Down 2.2 %

WFC traded down $1.57 during trading on Friday, hitting $70.71. The company had a trading volume of 13,550,316 shares, compared to its average volume of 17,140,434. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market cap of $230.87 billion, a PE ratio of 13.14, a P/E/G ratio of 1.18 and a beta of 1.16. The business has a 50-day moving average of $75.84 and a 200-day moving average of $70.03.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data 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. 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 the consensus estimate of $20.58 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The firm's revenue was down .5% on a year-over-year basis. As a group, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is 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.