KBC Group NV Acquires 758,893 Shares of Wells Fargo & Company (NYSE:WFC)

KBC Group NV increased its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 63.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,962,302 shares of the financial services provider's stock after acquiring an additional 758,893 shares during the period. KBC Group NV owned about 0.06% of Wells Fargo & Company worth $137,832,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Income Research & Management bought a new stake in shares of Wells Fargo & Company in the third quarter worth about $211,000. Mattson Financial Services LLC purchased a new stake in Wells Fargo & Company in the 2nd quarter worth approximately $25,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company during the second quarter valued at approximately $26,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock traded up $0.58 during trading hours on Monday, hitting $77.90. The company's stock had a trading volume of 10,630,567 shares, compared to its average volume of 15,855,825. 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 has a 12-month low of $47.45 and a 12-month high of $78.30. The business has a 50 day moving average price of $73.19 and a two-hundred day moving average price of $64.10. The company has a market cap of $259.37 billion, a PE ratio of 14.48, a PEG ratio of 1.17 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (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 company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the previous year, the firm posted $0.86 EPS. Wells Fargo & Company's revenue for the quarter was down .5% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 5.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WFC has been the topic of several recent analyst reports. Barclays lifted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Wolfe Research raised shares of Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 target price on the stock in a research note on Tuesday, October 8th. Evercore ISI increased their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Compass Point raised their price objective 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. Finally, Truist Financial upped their target price on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $73.39.

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.