Fisher Asset Management LLC Increases Position in Wells Fargo & Company (NYSE:WFC)

Fisher Asset Management LLC raised its holdings in Wells Fargo & Company (NYSE:WFC) by 20.0% during the 4th quarter, Holdings Channel reports. The firm owned 29,789 shares of the financial services provider’s stock after buying an additional 4,956 shares during the quarter. Fisher Asset Management LLC’s holdings in Wells Fargo & Company were worth $2,092,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in WFC. Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $35,000. Finally, BankPlus Trust Department purchased a new position in Wells Fargo & Company in the 4th quarter valued at about $35,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $74.20 on Thursday. The firm has a market cap of $243.97 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. 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 has a 52 week low of $50.15 and a 52 week high of $81.50. The business’s fifty day simple moving average is $76.08 and its 200-day simple moving average is $68.28.

Wells Fargo & Company (NYSE:WFC) last posted 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 company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the company posted $0.86 earnings per share. Wells Fargo & Company’s revenue for the quarter was down .5% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.16%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WFC shares. Truist Financial boosted their price objective on Wells Fargo & Company from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Compass Point increased their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. 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 research note on Thursday, January 16th. Barclays increased their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Piper Sandler boosted their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $73.39.

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.