DnB Asset Management AS Buys 12,352 Shares of Wells Fargo & Company (NYSE:WFC)

DnB Asset Management AS lifted its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 613,324 shares of the financial services provider's stock after buying an additional 12,352 shares during the quarter. DnB Asset Management AS's holdings in Wells Fargo & Company were worth $43,080,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC grew its position in shares of Wells Fargo & Company by 19.1% in the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after acquiring an additional 30,510 shares during the period. Rockefeller Capital Management L.P. lifted its stake in Wells Fargo & Company by 37.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider's stock valued at $36,055,000 after purchasing an additional 173,083 shares during the last quarter. Atlantic Union Bankshares Corp grew its holdings in Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider's stock worth $10,031,000 after purchasing an additional 26,320 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Wells Fargo & Company by 14.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider's stock worth $58,055,000 after buying an additional 131,322 shares during the last quarter. Finally, Valmark Advisers Inc. raised its stake in Wells Fargo & Company by 5.5% in the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock valued at $583,000 after buying an additional 431 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

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Wells Fargo & Company Price Performance

Shares of WFC traded down $1.57 during trading hours on Friday, hitting $70.71. 13,550,316 shares of the company were exchanged, compared to its average volume of 17,140,434. The company has a market cap of $230.87 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 1.18 and a beta of 1.16. The firm's fifty day moving average is $75.84 and its 200 day moving average is $70.03. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analysts' expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 EPS. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced 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 dividend yield of 2.26%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is presently 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the subject of several research analyst reports. Barclays lifted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Citigroup reduced their price objective on shares of 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 increased their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. Finally, UBS Group increased their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a report on Monday, December 9th. Nine 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 currently has an average rating of "Moderate Buy" and an average target price of $74.97.

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.