Ritholtz Wealth Management Acquires 7,954 Shares of Wells Fargo & Company (NYSE:WFC)

Ritholtz Wealth Management boosted its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 13.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,089 shares of the financial services provider's stock after acquiring an additional 7,954 shares during the quarter. Ritholtz Wealth Management's holdings in Wells Fargo & Company were worth $4,642,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Two Sigma Advisers LP lifted its holdings in shares of Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock valued at $336,375,000 after purchasing an additional 5,237,500 shares in the last quarter. Canoe Financial LP bought a new position in Wells Fargo & Company during the 3rd quarter valued at $160,529,000. Marshall Wace LLP boosted its holdings in Wells Fargo & Company by 3,295.6% during the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider's stock worth $138,493,000 after acquiring an additional 2,404,898 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Wells Fargo & Company by 158.1% in 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 acquiring an additional 1,659,716 shares in the last quarter. Finally, National Pension Service raised its holdings in shares of Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock valued at $383,532,000 after purchasing an additional 897,195 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Phillip Securities raised shares of Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and upped their price objective for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Piper Sandler upped their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Truist Financial lifted their price target on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday. The Goldman Sachs Group upped their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, 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. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of "Hold" and a consensus price target of $72.17.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded up $1.27 during trading hours on Friday, reaching $77.22. The company had a trading volume of 20,609,919 shares, compared to its average volume of 16,990,602. The firm has a market cap of $257.11 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The business has a fifty day simple moving average of $72.60 and a 200 day simple moving average of $63.33.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. The company's quarterly revenue was down .5% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Company will post 5.45 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 33.26%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.