Wells Fargo & Company (NYSE:WFC) Shares Purchased by Mizuho Securities USA LLC

Mizuho Securities USA LLC increased its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 43.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 315,560 shares of the financial services provider's stock after buying an additional 94,844 shares during the period. Mizuho Securities USA LLC's holdings in Wells Fargo & Company were worth $22,165,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth about $132,000. King Luther Capital Management Corp lifted its stake in shares of Wells Fargo & Company by 1.4% in the third quarter. King Luther Capital Management Corp now owns 85,680 shares of the financial services provider's stock worth $4,840,000 after buying an additional 1,200 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of Wells Fargo & Company by 33.6% during the third quarter. Intech Investment Management LLC now owns 135,555 shares of the financial services provider's stock valued at $7,658,000 after buying an additional 34,068 shares during the last quarter. Trustmark National Bank Trust Department increased its position in shares of Wells Fargo & Company by 13.9% during the third quarter. Trustmark National Bank Trust Department now owns 4,813 shares of the financial services provider's stock valued at $272,000 after acquiring an additional 587 shares in the last quarter. Finally, Integrated Investment Consultants LLC purchased a new position in Wells Fargo & Company in the 3rd quarter worth approximately $471,000. 75.90% of the stock is currently owned by institutional investors.

Remove Ads

Wells Fargo & Company Stock Down 0.1 %

Shares of Wells Fargo & Company stock traded down $0.05 during trading hours on Tuesday, hitting $74.23. The company had a trading volume of 2,373,174 shares, compared to its average volume of 16,416,712. The company's 50-day moving average is $76.03 and its two-hundred day moving average is $69.62. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month 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 $244.08 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating 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 business had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. During the same period in the previous year, the company posted $0.86 EPS. The company's quarterly revenue was down .5% on a year-over-year basis. Analysts anticipate 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 disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is presently 29.74%.

Analyst Upgrades and Downgrades

A number of analysts have commented on WFC shares. Citigroup reduced their target price on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a report on Monday. UBS Group boosted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Piper Sandler raised their price target on shares of 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 shares of Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Finally, Compass Point raised their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.18.

About Wells Fargo & Company

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.