Wells Fargo & Company $WFC Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 8.4% in the second quarter, HoldingsChannel reports. The firm owned 1,674,246 shares of the financial services provider’s stock after buying an additional 129,254 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Wells Fargo & Company were worth $134,141,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Access Investment Management LLC purchased a new stake in shares of Wells Fargo & Company during the second quarter worth about $25,000. CBIZ Investment Advisory Services LLC grew its stake in Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new stake in Wells Fargo & Company in the 2nd quarter worth approximately $27,000. Motco raised its holdings in Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 326 shares during the last quarter. Finally, Accent Capital Management LLC purchased a new position in shares of Wells Fargo & Company during the 1st quarter worth $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.3%

WFC opened at $84.98 on Monday. The firm has a 50 day moving average price of $83.71 and a 200 day moving average price of $79.98. The company has a market cap of $266.77 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $88.64. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. During the same period in the previous year, the company posted $1.42 earnings per share. Wells Fargo & Company’s revenue was up 5.3% compared to the same quarter last year. Sell-side analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is presently 29.61%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent analyst reports. Truist Financial lifted their price objective on Wells Fargo & Company from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. TD Cowen upped their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Barclays raised their target price on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Finally, Bank of America increased their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

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.