Nomura Asset Management Co. Ltd. Purchases 164,308 Shares of Wells Fargo & Company (NYSE:WFC)

Nomura Asset Management Co. Ltd. grew its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 12.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,507,766 shares of the financial services provider's stock after purchasing an additional 164,308 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Wells Fargo & Company were worth $105,905,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in WFC. New Age Alpha Advisors LLC bought a new position in Wells Fargo & Company during the 4th quarter worth $4,629,000. Norges Bank acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $3,365,658,000. Loomis Sayles & Co. L P grew its position in shares of Wells Fargo & Company by 16.5% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,384 shares of the financial services provider's stock worth $97,000 after acquiring an additional 196 shares during the last quarter. AssuredPartners Investment Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $352,000. Finally, NEOS Investment Management LLC increased its holdings in shares of Wells Fargo & Company by 6.2% in the 4th quarter. NEOS Investment Management LLC now owns 182,126 shares of the financial services provider's stock worth $12,793,000 after acquiring an additional 10,563 shares during the period. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on WFC shares. Compass Point upped their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. Citigroup reduced their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Morgan Stanley raised their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Piper Sandler boosted their price target on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Finally, Truist Financial increased their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of "Moderate Buy" and a consensus target price of $74.97.

Remove Ads

Wells Fargo & Company Stock Performance

Shares of WFC traded down $1.57 during mid-day trading on Friday, hitting $70.71. The company's stock had a trading volume of 13,550,316 shares, compared to its average volume of 17,140,434. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The stock's 50-day moving average is $75.84 and its two-hundred day moving average is $70.03. The firm has a market capitalization of $230.87 billion, a PE ratio of 13.14, 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 (NYSE:WFC - Get Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating 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 business had revenue of $20.38 billion during the quarter, compared to analysts' expectations of $20.58 billion. During the same quarter last year, the company earned $0.86 earnings per share. The firm's revenue was down .5% on a year-over-year basis. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's payout ratio 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.