First National Bank of Hutchinson Takes $423,000 Position in Wells Fargo & Company (NYSE:WFC)

First National Bank of Hutchinson bought a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,029 shares of the financial services provider’s stock, valued at approximately $423,000.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its position in Wells Fargo & Company by 10.1% in the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after buying an additional 575,892 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after purchasing an additional 5,237,500 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock valued at $153,069,000 after purchasing an additional 1,659,716 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in Wells Fargo & Company by 81.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock worth $111,914,000 after purchasing an additional 889,953 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Wells Fargo & Company by 63.1% in the 4th quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider’s stock valued at $137,832,000 after purchasing an additional 758,893 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Truist Financial upped their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Piper Sandler upped their target price on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Thursday, March 13th. Keefe, Bruyette & Woods upped their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Finally, UBS Group lifted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.39.

Wells Fargo & Company Stock Up 2.4 %

WFC stock opened at $72.79 on Thursday. The firm’s 50-day moving average is $75.88 and its two-hundred day moving average is $69.22. The company has a market capitalization of $239.35 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts forecast 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. 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 dividend on an annualized basis and a dividend yield of 2.20%. Wells Fargo & Company’s payout ratio is currently 29.74%.

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.