Wells Fargo & Company (NYSE:WFC) Shares Acquired by Ally Financial Inc.

Ally Financial Inc. increased its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 20.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,000 shares of the financial services provider's stock after purchasing an additional 6,000 shares during the quarter. Ally Financial Inc.'s holdings in Wells Fargo & Company were worth $2,529,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $26,000. Investment Counsel Co. of Nevada purchased a new stake in Wells Fargo & Company in the fourth quarter worth about $28,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $30,000. Finally, Rakuten Securities Inc. grew its stake 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. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded up $0.65 during trading on Friday, reaching $64.63. The company had a trading volume of 18,930,900 shares, compared to its average volume of 17,584,163. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market capitalization of $211.02 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The firm's 50-day simple moving average is $71.23 and its 200 day simple moving average is $71.05.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. The business had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 earnings per share. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors 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 2.48%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's payout ratio is 28.73%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of 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. Royal Bank of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a report on Thursday, March 13th. Bank of America dropped their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Truist Financial lowered their price target on Wells Fargo & Company from $84.00 to $73.00 and set a "buy" rating on the stock in a report on Monday. Finally, Piper Sandler cut their price objective on shares of Wells Fargo & Company from $77.00 to $75.00 and set an "overweight" rating for the company in a report on Monday. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $75.34.

Wells Fargo & 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.