Wells Fargo & Company $WFC Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 2,327.6% during the third quarter, Holdings Channel reports. The firm owned 14,517 shares of the financial services provider’s stock after acquiring an additional 13,919 shares during the quarter. International Assets Investment Management LLC’s holdings in Wells Fargo & Company were worth $1,183,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of WFC. Vanguard Group Inc. lifted its stake in Wells Fargo & Company by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock worth $24,203,688,000 after acquiring an additional 1,341,222 shares in the last quarter. Norges Bank purchased a new stake in Wells Fargo & Company during the second quarter worth about $3,990,551,000. Massachusetts Financial Services Co. MA lifted its position in shares of Wells Fargo & Company by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 17,859,680 shares of the financial services provider’s stock worth $1,496,998,000 after purchasing an additional 1,223,999 shares in the last quarter. Amundi boosted its stake in shares of Wells Fargo & Company by 18.2% in the second quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after purchasing an additional 2,180,693 shares during the period. Finally, Pzena Investment Management LLC grew its holdings in shares of Wells Fargo & Company by 5.5% in the second quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock valued at $830,990,000 after purchasing an additional 542,493 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research reports. HSBC reiterated a “hold” rating and set a $74.00 target price on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Barclays increased their price objective on Wells Fargo & Company from $94.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Bank of America boosted their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Truist Financial dropped their target price on Wells Fargo & Company from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, January 15th. Finally, UBS Group dropped their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.87.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $87.00 on Friday. The stock’s 50-day moving average is $90.33 and its two-hundred day moving average is $85.00. The firm has a market cap of $273.11 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.94 and a beta of 1.09. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $97.76. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.10. The business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 EPS. Analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is presently 28.71%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.